Bristol Myers Squibb Company (NYSE:BMY) Stake Raised by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its holdings in Bristol Myers Squibb by 125.7% in the first quarter, acquiring an additional 9,275 shares, making it the firm's 29th largest position.
• Bristol Myers Squibb will pay a quarterly dividend of $0.62 per share on August 1st, representing a yearly yield of 5.29% with a payout ratio of 92.88%.
• Research analysts have mixed ratings for the stock, with an average consensus rating of "Hold" and a target price of $58.53.

Bayforest Capital Ltd raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 125.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,656 shares of the biopharmaceutical company's stock after acquiring an additional 9,275 shares during the quarter. Bristol Myers Squibb makes up 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 29th largest position. Bayforest Capital Ltd's holdings in Bristol Myers Squibb were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Bristol Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Bristol Myers Squibb by 59.9% in 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. Bank of New York Mellon Corp boosted its position in shares of Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Bristol Myers Squibb by 16.2% in the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after acquiring an additional 3,431,248 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several research analyst reports. UBS Group decreased their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Citigroup dropped their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and an average price target of $57.33.

Bristol Myers Squibb Stock Performance

Shares of BMY traded up $0.94 during midday trading on Friday, hitting $44.25. 18,626,740 shares of the stock traded hands, compared to its average volume of 12,693,902. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The firm has a market capitalization of $90.05 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The business's 50 day moving average price is $47.51 and its two-hundred day moving average price is $52.26.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.60%. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.6%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

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.