Lipe & Dalton Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Lipe & Dalton grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,769 shares of the biopharmaceutical company’s stock after purchasing an additional 208 shares during the period. Bristol-Myers Squibb makes up about 1.7% of Lipe & Dalton’s holdings, making the stock its 20th largest holding. Lipe & Dalton’s holdings in Bristol-Myers Squibb were worth $3,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB raised its stake in shares of Bristol-Myers Squibb by 6.9% in the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after acquiring an additional 39,419 shares in the last quarter. Swedbank AB increased its stake in shares of Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after buying an additional 28,427 shares during the period. Greenleaf Trust lifted its stake in Bristol-Myers Squibb by 54.2% in the third quarter. Greenleaf Trust now owns 25,601 shares of the biopharmaceutical company’s stock worth $1,325,000 after acquiring an additional 9,001 shares during the last quarter. McAdam LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $270,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Bristol-Myers Squibb by 12.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock valued at $3,321,000 after purchasing an additional 7,245 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Up 0.1 %

NYSE BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The stock has a market cap of $113.33 billion, a PE ratio of -12.63, a P/E/G ratio of 2.04 and a beta of 0.45. 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 business has a 50 day moving average price of $56.99 and a two-hundred day moving average price of $54.30.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup upped their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.86.

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.