Fairtree Asset Management Pty Ltd Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Fairtree Asset Management Pty Ltd acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,720 shares of the biopharmaceutical company's stock, valued at approximately $550,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,989,525,000. Ameriprise Financial Inc. raised 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 valued at $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position 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 buying an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP raised 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 buying an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $257,618,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.41 during mid-day trading on Friday, reaching $48.26. 20,756,575 shares of the company's stock were exchanged, compared to its average volume of 13,135,047. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market capitalization of $98.21 billion, a PE ratio of -10.92, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The business's fifty day simple moving average is $50.71 and its 200-day simple moving average is $55.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the firm posted ($4.40) EPS. Bristol-Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were given a dividend of $0.62 per share. The ex-dividend date 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 currently 92.88%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BMY shares. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.