Norden Group LLC Has $5.21 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Norden Group LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 325.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,076 shares of the biopharmaceutical company’s stock after purchasing an additional 70,423 shares during the period. Norden Group LLC’s holdings in Bristol-Myers Squibb were worth $5,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealthspire Advisors LLC boosted its holdings in Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after acquiring an additional 170 shares in the last quarter. Edmp Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 179 shares in the last quarter. Finally, Meridian Management Co. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after buying an additional 182 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BMY shares. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.71 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The business has a 50-day simple moving average of $57.15 and a two-hundred day simple moving average of $54.74. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market cap of $121.17 billion, a price-to-earnings ratio of -13.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.15%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.