Xponance Inc. Acquires 11,370 Shares of Bristol-Myers Squibb (NYSE:BMY)

Xponance Inc. lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333,939 shares of the biopharmaceutical company’s stock after purchasing an additional 11,370 shares during the quarter. Xponance Inc.’s holdings in Bristol-Myers Squibb were worth $18,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $488,000. Inspire Trust Co. N.A. boosted its holdings in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares during the period. Finally, Bellevue Group AG purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $1,905,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company raised their price objective on 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. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $60.07 on Tuesday. The business’s 50 day moving average price is $57.87 and its 200-day moving average price is $55.69. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a market cap of $121.89 billion, a P/E ratio of -13.59, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

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, beating 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%. Sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.