Avanza Fonder AB Buys Shares of 218,226 Bristol-Myers Squibb (NYSE:BMY)

Avanza Fonder AB purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, Holdings Channel reports. The firm purchased 218,226 shares of the biopharmaceutical company’s stock, valued at approximately $12,343,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Procyon Advisors LLC grew its position in Bristol-Myers Squibb by 8.3% in the fourth quarter. Procyon Advisors LLC now owns 18,660 shares of the biopharmaceutical company’s stock valued at $1,055,000 after purchasing an additional 1,423 shares in the last quarter. Everpar Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 8.0% during the 4th quarter. Everpar Advisors LLC now owns 12,145 shares of the biopharmaceutical company’s stock worth $687,000 after buying an additional 903 shares during the last quarter. Goldstone Financial Group LLC grew its holdings in shares of Bristol-Myers Squibb by 6.1% in the 4th quarter. Goldstone Financial Group LLC now owns 4,824 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 279 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of Bristol-Myers Squibb by 13.3% in the fourth quarter. KMG Fiduciary Partners LLC now owns 35,210 shares of the biopharmaceutical company’s stock valued at $1,992,000 after buying an additional 4,144 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $474,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Stock Down 0.7 %

BMY stock opened at $56.00 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The stock’s 50 day simple moving average is $57.45 and its 200 day simple moving average is $51.79. The company has a market cap of $113.57 billion, a P/E ratio of -15.56, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm posted $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.