Bristol Myers Squibb Company $BMY Stock Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP boosted its position in Bristol Myers Squibb Company (NYSE:BMY) by 358.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,181 shares of the biopharmaceutical company’s stock after purchasing an additional 35,316 shares during the period. Fulcrum Asset Management LLP’s holdings in Bristol Myers Squibb were worth $2,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Davis Asset Management L.P. acquired a new position in Bristol Myers Squibb during the 2nd quarter worth approximately $27,000. Addison Advisors LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $32,000. Groupe la Francaise raised its stake in shares of Bristol Myers Squibb by 562.9% during the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 501 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. Finally, Kilter Group LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. UBS Group downgraded Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley cut their price objective on Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating for the company in a research report on Friday, October 30th. Wells Fargo & Company reduced their target price on Bristol Myers Squibb from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. Piper Sandler reduced their target price on Bristol Myers Squibb from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Finally, TD Cowen started coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $65.46.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $62.80 on Wednesday. The stock has a market cap of $128.37 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. The business’s fifty day moving average price is $62.17 and its two-hundred day moving average price is $60.19. Bristol Myers Squibb Company has a one year low of $45.26 and a one year high of $68.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.72 billion. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.45 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio is currently 55.88%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, Director Julia A. Haller sold 3,800 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the transaction, the director directly owned 30,279 shares of the company’s stock, valued at $1,916,963.49. This represents a 11.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the sale, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.