Point72 Europe London LLP Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Point72 Europe London LLP lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 291.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,813 shares of the biopharmaceutical company’s stock after buying an additional 162,962 shares during the period. Point72 Europe London LLP’s holdings in Bristol-Myers Squibb were worth $12,376,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Transce3nd LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $39,000. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BMY shares. UBS Group dropped their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Piper Sandler started coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Wells Fargo & Company boosted their target price on shares of 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. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $44.06 on Thursday. The stock has a market capitalization of $89.67 billion, a price-to-earnings ratio of -9.97, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a 50-day simple moving average of $53.69 and a 200 day simple moving average of $56.06. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The business 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%. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.40) EPS. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.63%. Bristol-Myers Squibb’s payout ratio is 92.88%.

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.