Flputnam Investment Management Co. Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Flputnam Investment Management Co. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 145,758 shares of the biopharmaceutical company’s stock after acquiring an additional 1,580 shares during the period. Flputnam Investment Management Co.’s holdings in Bristol-Myers Squibb were worth $8,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $25,000. Hollencrest Capital Management raised its position in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $29,000. Finally, Dunhill Financial LLC increased its stake in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the topic of a number of analyst reports. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Bank of America reissued a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

BMY stock opened at $59.71 on Friday. The stock’s 50 day moving average price is $57.15 and its 200 day moving average price is $54.74. The firm has a market cap of $121.17 billion, a P/E ratio of -13.51, a PEG ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

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.