Artemis Investment Management LLP Takes Position in Bristol Myers Squibb Company (NYSE:BMY)

Artemis Investment Management LLP purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 242,131 shares of the biopharmaceutical company's stock, valued at approximately $14,768,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $1,989,525,000. Ameriprise Financial Inc. raised its position in Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Bristol Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $257,618,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Bristol Myers Squibb Trading Up 2.6%

Shares of NYSE BMY traded up $1.18 during midday trading on Tuesday, hitting $47.47. The stock had a trading volume of 15,777,153 shares, compared to its average volume of 12,920,766. The company has a fifty day moving average price of $47.85 and a 200 day moving average price of $53.84. The company has a market capitalization of $96.61 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.37 and a beta of 0.38. Bristol Myers Squibb Company has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

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 (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.40) earnings per share. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. UBS Group decreased 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. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $58.00.

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.