Ipsen Advisor Group LLC Acquires New Shares in Bristol-Myers Squibb (NYSE:BMY)

Ipsen Advisor Group LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,381 shares of the biopharmaceutical company’s stock, valued at approximately $531,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Summitry LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $207,000. Murphy & Mullick Capital Management Corp acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $307,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,542,962 shares of the biopharmaceutical company’s stock valued at $143,830,000 after buying an additional 186,008 shares during the period. PKS Advisory Services LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $304,000. Finally, Prestige Wealth Management Group LLC increased its position in shares of Bristol-Myers Squibb by 1.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 28,778 shares of the biopharmaceutical company’s stock worth $1,628,000 after acquiring an additional 403 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMY. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Cantor Fitzgerald boosted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Trading Down 3.0 %

Bristol-Myers Squibb stock opened at $59.22 on Wednesday. The stock has a 50-day simple moving average of $58.36 and a 200 day simple moving average of $56.13. The stock has a market capitalization of $120.18 billion, a P/E ratio of -13.40, a PEG 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 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, February 6th. The biopharmaceutical company reported $1.67 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%. Analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

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.