Paradigm Asset Management Co. LLC Has $2.23 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Paradigm Asset Management Co. LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 19.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 39,408 shares of the biopharmaceutical company’s stock after buying an additional 6,400 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Bristol-Myers Squibb were worth $2,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $115,000. Waterfront Wealth Inc. grew its stake in shares of Bristol-Myers Squibb by 2.5% during the fourth quarter. Waterfront Wealth Inc. now owns 32,670 shares of the biopharmaceutical company’s stock worth $1,848,000 after purchasing an additional 812 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Bristol-Myers Squibb by 10.1% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,557 shares of the biopharmaceutical company’s stock worth $484,000 after purchasing an additional 785 shares during the period. FDx Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 13.8% during the fourth quarter. FDx Advisors Inc. now owns 6,480 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 784 shares during the period. Finally, Lakeside Advisors INC. grew its stake in shares of Bristol-Myers Squibb by 7.4% during the fourth quarter. Lakeside Advisors INC. now owns 4,394 shares of the biopharmaceutical company’s stock worth $249,000 after purchasing an additional 302 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMY shares. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on 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, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Performance

BMY opened at $55.80 on Friday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The firm has a market capitalization of $113.23 billion, a PE ratio of -12.62, a PEG ratio of 2.02 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business’s 50-day simple moving average is $56.99 and its 200 day simple moving average is $54.24.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

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.