Nearwater Capital Markets Ltd Purchases Shares of 280,000 Bristol-Myers Squibb (NYSE:BMY)

Nearwater Capital Markets Ltd purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, Holdings Channel reports. The fund purchased 280,000 shares of the biopharmaceutical company’s stock, valued at approximately $15,837,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NorthRock Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 192.8% in the fourth quarter. NorthRock Partners LLC now owns 26,839 shares of the biopharmaceutical company’s stock worth $1,518,000 after purchasing an additional 17,672 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Bristol-Myers Squibb by 16.1% during the 4th quarter. Nuveen Asset Management LLC now owns 10,420,945 shares of the biopharmaceutical company’s stock valued at $589,409,000 after acquiring an additional 1,444,822 shares during the period. Morse Asset Management Inc lifted its stake in shares of Bristol-Myers Squibb by 562.9% during the 4th quarter. Morse Asset Management Inc now owns 66,292 shares of the biopharmaceutical company’s stock valued at $3,749,000 after buying an additional 56,292 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $30,207,000. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 5.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 44,911 shares of the biopharmaceutical company’s stock worth $2,540,000 after buying an additional 2,269 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Down 3.3%

NYSE BMY opened at $46.58 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a 50 day moving average of $54.03 and a 200-day moving average of $56.14. The company has a market cap of $94.79 billion, a PE ratio of -10.54, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.40) EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.32%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. UBS Group cut their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group decreased 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 note on Wednesday, April 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Profile

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.