294,400 Shares in Bristol-Myers Squibb (NYSE:BMY) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 294,400 shares of the biopharmaceutical company's stock, valued at approximately $16,651,000.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp grew its position in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after buying an additional 60,365 shares in the last quarter. High Net Worth Advisory Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 42.2% in the fourth quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company's stock valued at $960,000 after acquiring an additional 5,040 shares in the last quarter. KBC Group NV increased its stake in shares of Bristol-Myers Squibb by 18.4% during the fourth quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company's stock valued at $229,343,000 after acquiring an additional 628,908 shares during the period. Quilter Plc lifted its position in Bristol-Myers Squibb by 56.6% in the fourth quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company's stock worth $6,098,000 after purchasing an additional 38,977 shares during the period. Finally, Advyzon Investment Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at $458,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMY. Jefferies Financial Group dropped their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Piper Sandler initiated coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Up 0.7%

BMY traded up $0.36 on Friday, hitting $48.21. 5,470,660 shares of the company were exchanged, compared to its average volume of 13,087,143. The company has a market cap of $98.10 billion, a PE ratio of -10.91, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock's fifty day moving average is $50.71 and its 200-day moving average is $55.46. 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 (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the business posted ($4.40) EPS. Bristol-Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS 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. Stockholders of record on Friday, April 4th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.14%. Bristol-Myers Squibb's payout ratio is 92.88%.

About Bristol-Myers Squibb

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.