Point72 Hong Kong Ltd Buys 246,166 Shares of Bristol-Myers Squibb (NYSE:BMY)

Point72 Hong Kong Ltd grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1,012.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,478 shares of the biopharmaceutical company’s stock after purchasing an additional 246,166 shares during the quarter. Bristol-Myers Squibb makes up 0.9% of Point72 Hong Kong Ltd’s holdings, making the stock its 27th biggest holding. Point72 Hong Kong Ltd’s holdings in Bristol-Myers Squibb were worth $15,298,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $38,000. Finally, Tacita Capital Inc bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $39,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of 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. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Jefferies Financial Group reduced their price target on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $58.00.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

BMY stock opened at $44.06 on Thursday. The business has a fifty day moving average of $53.69 and a two-hundred day moving average of $56.06. 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 stock has a market cap of $89.67 billion, a price-to-earnings ratio of -9.97, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter last year, the company earned ($4.40) earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

About Bristol-Myers Squibb

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.