Magnetar Financial LLC Acquires 182,616 Shares of Bristol-Myers Squibb (NYSE:BMY)

Magnetar Financial LLC lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 540.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 216,407 shares of the biopharmaceutical company’s stock after acquiring an additional 182,616 shares during the period. Magnetar Financial LLC’s holdings in Bristol-Myers Squibb were worth $12,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthspire Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 170 shares during the last quarter. Edmp Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares in the last quarter. Trust Point Inc. grew its stake in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 172 shares in the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Up 0.3 %

BMY opened at $60.07 on Thursday. The company’s 50 day moving average is $58.00 and its 200-day moving average is $55.79. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $121.90 billion, a P/E ratio of -13.59, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Equities research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BMY shares. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America restated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company upped 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 research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.86.

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.