Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,228 shares of the biopharmaceutical company's stock after acquiring an additional 49,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Bristol-Myers Squibb were worth $21,958,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CSS LLC IL raised its holdings in shares of Bristol-Myers Squibb by 19.9% during the fourth quarter. CSS LLC IL now owns 31,940 shares of the biopharmaceutical company's stock worth $1,807,000 after purchasing an additional 5,310 shares during the period. Kolinsky Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $204,000. Continuum Advisory LLC raised its stake in Bristol-Myers Squibb by 15.1% during the fourth quarter. Continuum Advisory LLC now owns 1,733 shares of the biopharmaceutical company's stock worth $98,000 after acquiring an additional 227 shares during the period. NCM Capital Management LLC lifted its holdings in Bristol-Myers Squibb by 1.1% in the fourth quarter. NCM Capital Management LLC now owns 21,626 shares of the biopharmaceutical company's stock worth $1,223,000 after acquiring an additional 238 shares during the last quarter. Finally, Principal Street Partners LLC boosted its stake in Bristol-Myers Squibb by 1.7% in the fourth quarter. Principal Street Partners LLC now owns 120,268 shares of the biopharmaceutical company's stock valued at $6,802,000 after acquiring an additional 2,053 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of "Hold" and a consensus target price of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.11 during mid-day trading on Tuesday, hitting $46.96. 3,113,468 shares of the stock traded hands, compared to its average volume of 13,111,045. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company's 50-day simple moving average is $51.53 and its 200-day simple moving average is $55.66. The firm has a market cap of $95.58 billion, a price-to-earnings ratio of -10.62, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released 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 $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period in the previous year, the company earned ($4.40) earnings per share. Bristol-Myers Squibb's revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently 92.88%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the company's stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.

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.