Toronto Dominion Bank Acquires 310,906 Shares of Bristol-Myers Squibb (NYSE:BMY)

Toronto Dominion Bank increased its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 37.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,145,990 shares of the biopharmaceutical company's stock after purchasing an additional 310,906 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Bristol-Myers Squibb worth $64,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BMY. Suvretta Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,912,000. Sphera Funds Management LTD. bought a new stake in Bristol-Myers Squibb during the 4th quarter worth about $1,131,000. Rafferty Asset Management LLC grew its holdings in Bristol-Myers Squibb by 10.1% during the fourth quarter. Rafferty Asset Management LLC now owns 236,274 shares of the biopharmaceutical company's stock valued at $13,364,000 after purchasing an additional 21,714 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $20,614,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Bristol-Myers Squibb by 236.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 81,262 shares of the biopharmaceutical company's stock worth $4,596,000 after purchasing an additional 57,086 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BMY shares. Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reiterated 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $58.00.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $0.90 during mid-day trading on Wednesday, hitting $46.97. 11,958,938 shares of the stock were exchanged, compared to its average volume of 13,206,404. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a 50-day simple moving average of $52.55 and a 200 day simple moving average of $55.89. The company has a market capitalization of $95.58 billion, a P/E ratio of -10.63, a P/E/G ratio of 2.07 and a beta of 0.39. 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 issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Bristol-Myers Squibb's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted ($4.40) earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend was Friday, April 4th. 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.