Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 169.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,395 shares of the biopharmaceutical company’s stock after acquiring an additional 117,224 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bristol-Myers Squibb were worth $10,543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMY. Swedbank AB lifted its holdings in Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after acquiring an additional 28,427 shares during the period. Pettinga Financial Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 8.7% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock worth $575,000 after buying an additional 886 shares during the last quarter. United Bank raised its stake in shares of Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 456 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 25.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 21,738 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 4,421 shares during the last quarter. Finally, Cable Hill Partners LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $296,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several research reports. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Truist Financial boosted their target price 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. Two research analysts have rated the stock with a sell rating, eleven have issued 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 a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.1 %

BMY opened at $59.01 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market capitalization of $119.75 billion, a price-to-earnings ratio of -13.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a 50-day moving average of $57.81 and a two-hundred day moving average of $55.51. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 positive return on equity of 13.93% and a negative net margin of 18.53%. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.