Te Ahumairangi Investment Management Ltd Has $4.14 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Te Ahumairangi Investment Management Ltd lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 32.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,144 shares of the biopharmaceutical company’s stock after selling 35,803 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Bristol-Myers Squibb were worth $4,137,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its stake in Bristol-Myers Squibb by 29.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 34,845 shares of the biopharmaceutical company’s stock worth $1,971,000 after buying an additional 7,864 shares in the last quarter. Boston Family Office LLC boosted its position in shares of Bristol-Myers Squibb by 4.1% during the 4th quarter. Boston Family Office LLC now owns 25,179 shares of the biopharmaceutical company’s stock worth $1,424,000 after acquiring an additional 1,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Bristol-Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Diametric Capital LP acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $296,000. Finally, National Wealth Management Group LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $255,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company boosted their target price on 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. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $59.53 on Wednesday. The stock’s 50 day moving average is $58.69 and its 200 day moving average is $56.52. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The firm has a market cap of $121.13 billion, a P/E ratio of -13.47, 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 current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate 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.