Suvretta Capital Management LLC Buys Shares of 33,800 Bristol-Myers Squibb (NYSE:BMY)

Suvretta Capital Management LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,800 shares of the biopharmaceutical company's stock, valued at approximately $1,912,000.

Several other hedge funds also recently added to or reduced their stakes in BMY. Vanguard Group Inc. lifted its holdings in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. Capital International Investors lifted its stake in Bristol-Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares during the period. Norges Bank bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $1,989,525,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.62 during mid-day trading on Tuesday, hitting $47.84. 12,593,561 shares of the stock traded hands, compared to its average volume of 13,228,862. 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 $52.80 and its 200-day simple moving average is $55.94. The firm has a market cap 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.

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 5.18%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently 92.88%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. 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 price objective for the company. Jefferies Financial Group dropped their price target 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. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price target 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. Finally, UBS Group lowered their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company 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 given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently 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.