Ilmarinen Mutual Pension Insurance Co Purchases 182,000 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 106.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 352,500 shares of the biopharmaceutical company’s stock after buying an additional 182,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Bristol-Myers Squibb were worth $19,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. United Bank increased its stake in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 456 shares during the period. Centiva Capital LP bought a new position in Bristol-Myers Squibb in the 3rd quarter worth about $936,000. Morse Asset Management Inc increased its position in shares of Bristol-Myers Squibb by 25.0% during the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 2,000 shares during the period. Quantinno Capital Management LP raised its stake in shares of Bristol-Myers Squibb by 63.2% during the third quarter. Quantinno Capital Management LP now owns 198,804 shares of the biopharmaceutical company’s stock valued at $10,286,000 after acquiring an additional 76,976 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 6.4% in the third quarter. Stifel Financial Corp now owns 1,991,717 shares of the biopharmaceutical company’s stock valued at $103,051,000 after purchasing an additional 119,469 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were acquired 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 owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Trading Down 4.3 %

Shares of NYSE:BMY opened at $55.32 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a market capitalization of $112.56 billion, a P/E ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.43. The business’s 50-day moving average is $58.62 and its 200 day moving average is $56.58. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 negative net margin of 18.53% and a positive return on equity of 13.93%. On average, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMY. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Bank of America reiterated 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 upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.86.

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.