355,366 Shares in Bristol-Myers Squibb (NYSE:BMY) Purchased by Tri Locum Partners LP

Tri Locum Partners LP acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, Holdings Channel reports. The fund acquired 355,366 shares of the biopharmaceutical company’s stock, valued at approximately $20,100,000. Bristol-Myers Squibb comprises 4.2% of Tri Locum Partners LP’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $28,000. Transce3nd LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $38,000. Finally, Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $47.86 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of -10.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company’s 50-day moving average is $56.37 and its two-hundred day moving average is $56.50. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same quarter last year, the business earned ($4.40) earnings per share. Research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 yield of 5.18%. Bristol-Myers Squibb’s payout ratio is currently 92.88%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were acquired 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 directly owns 63,932 shares in the company, 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 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.