Zimmer Partners LP Buys New Position in Bristol-Myers Squibb (NYSE:BMY)

Zimmer Partners LP bought a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 378,000 shares of the biopharmaceutical company's stock, valued at approximately $21,380,000.

Several other institutional investors have also added to or reduced their stakes in BMY. Norges Bank bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. boosted its holdings in 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 acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in 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 period. Wellington Management Group LLP grew its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after buying an additional 5,827,317 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $257,618,000. 76.41% of the stock is currently owned by institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost 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 in the company, valued at $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMY. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $47.22 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $96.10 billion, a PE ratio of -10.68, a P/E/G ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a 50-day moving average price of $52.80 and a two-hundred day moving average price of $55.94.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the business earned ($4.40) earnings per share. The company's quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb's payout ratio is 92.88%.

Bristol-Myers Squibb Company 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.

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