Federated Hermes Inc. Buys 571,107 Shares of Bristol-Myers Squibb (NYSE:BMY)

Federated Hermes Inc. grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,933,844 shares of the biopharmaceutical company’s stock after acquiring an additional 571,107 shares during the quarter. Bristol-Myers Squibb comprises about 1.1% of Federated Hermes Inc.’s investment portfolio, making the stock its 8th largest holding. Federated Hermes Inc. owned about 0.44% of Bristol-Myers Squibb worth $505,298,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Waterloo Capital L.P. increased its stake in shares of Bristol-Myers Squibb by 672.2% in the fourth quarter. Waterloo Capital L.P. now owns 30,571 shares of the biopharmaceutical company’s stock valued at $1,729,000 after purchasing an additional 26,612 shares during the period. Quadrant Capital Group LLC increased its position in Bristol-Myers Squibb by 9.3% in the 4th quarter. Quadrant Capital Group LLC now owns 12,916 shares of the biopharmaceutical company’s stock valued at $731,000 after acquiring an additional 1,096 shares during the period. Ilmarinen Mutual Pension Insurance Co raised its stake in Bristol-Myers Squibb by 106.7% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 352,500 shares of the biopharmaceutical company’s stock valued at $19,937,000 after acquiring an additional 182,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Bristol-Myers Squibb by 33.3% in the fourth quarter. Russell Investments Group Ltd. now owns 2,860,651 shares of the biopharmaceutical company’s stock worth $161,694,000 after purchasing an additional 714,693 shares in the last quarter. Finally, Rahlfs Capital LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,186,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BMY shares. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Down 4.3 %

Shares of NYSE:BMY opened at $55.32 on Friday. The firm has a 50 day simple moving average of $58.62 and a 200 day simple moving average of $56.63. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market cap of $112.56 billion, a PE ratio of -12.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Bristol-Myers Squibb Company 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.