Sound Shore Management Inc. CT Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Sound Shore Management Inc. CT bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,373,687 shares of the biopharmaceutical company’s stock, valued at approximately $77,696,000. Bristol-Myers Squibb comprises about 2.6% of Sound Shore Management Inc. CT’s portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $34,000. Dunhill Financial LLC raised its position in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the last quarter. Westend Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $38,000. Finally, Tacita Capital Inc acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 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 completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective 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. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup upped 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 note on Tuesday, January 28th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $61.06 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm’s 50 day moving average is $58.17 and its 200-day moving average is $55.97. The firm has a market capitalization of $123.92 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.06%. Bristol-Myers Squibb’s payout ratio is -56.11%.

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.