Colrain Capital LLC Buys New Shares in Bristol-Myers Squibb (NYSE:BMY)

Colrain Capital LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 121,500 shares of the biopharmaceutical company’s stock, valued at approximately $6,872,000. Bristol-Myers Squibb accounts for approximately 6.7% of Colrain Capital LLC’s holdings, making the stock its 5th biggest holding.

A number of other large investors have also recently made changes to their positions in BMY. United Bank raised its holdings in Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 456 shares during the period. Public Sector Pension Investment Board lifted its holdings in Bristol-Myers Squibb by 13.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 88,350 shares of the biopharmaceutical company’s stock worth $4,571,000 after purchasing an additional 10,400 shares in the last quarter. Fred Alger Management LLC boosted its stake in Bristol-Myers Squibb by 146.5% in the 3rd quarter. Fred Alger Management LLC now owns 102,293 shares of the biopharmaceutical company’s stock worth $5,293,000 after purchasing an additional 60,797 shares during the period. PDT Partners LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at approximately $1,016,000. Finally, Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Bristol-Myers Squibb by 1.7% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 21,303 shares of the biopharmaceutical company’s stock worth $1,102,000 after buying an additional 355 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased 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 $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $60.10 on Monday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The firm has a market cap of $121.96 billion, a price-to-earnings ratio of -13.60, a PEG ratio of 2.07 and a beta of 0.43. The business’s fifty day simple moving average is $58.55 and its two-hundred day simple moving average is $56.35. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial raised 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. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price 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. Two 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 MarketBeat, the company currently 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.