Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,274 shares of the biopharmaceutical company's stock after acquiring an additional 21,714 shares during the period. Rafferty Asset Management LLC's holdings in Bristol-Myers Squibb were worth $13,364,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Transce3nd LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $34,000. Westend Capital Management LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $38,000. Finally, Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.62 during trading on Tuesday, reaching $47.84. The company's stock had a trading volume of 12,593,561 shares, compared to its average volume of 13,228,862. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company's fifty day moving average price is $52.80 and its 200-day moving average price is $55.94. The company has a market capitalization of $97.36 billion, a price-to-earnings ratio of -10.82, a price-to-earnings-growth 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 announced 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 positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the company earned ($4.40) EPS. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.18%. Bristol-Myers Squibb's payout ratio is 92.88%.

Insider Activity

In related news, EVP Samit Hirawat acquired 4,250 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BMY. Jefferies Financial Group cut their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. 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, UBS Group cut their target price on 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. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $58.00.

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.