Catalyst Funds Management Pty Ltd Acquires 15,700 Shares of Bristol-Myers Squibb (NYSE:BMY)

Catalyst Funds Management Pty Ltd boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 218.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,900 shares of the biopharmaceutical company’s stock after purchasing an additional 15,700 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Bristol-Myers Squibb were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $29,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $34,000. Dunhill Financial LLC lifted its stake in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the last quarter. Finally, Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $38,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup raised their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $59.01 on Friday. The stock has a 50-day moving average price of $57.81 and a 200-day moving average price of $55.51. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market cap of $119.75 billion, a PE ratio of -13.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Activity

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated 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 purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

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.