L2 Asset Management LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

L2 Asset Management LLC acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,256 shares of the biopharmaceutical company’s stock, valued at approximately $328,000.

Other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP increased its position in shares of Bristol-Myers Squibb by 709.5% in the third quarter. Two Sigma Advisers LP now owns 6,603,299 shares of the biopharmaceutical company’s stock valued at $390,717,000 after acquiring an additional 5,787,600 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Bristol-Myers Squibb by 377.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,034,622 shares of the biopharmaceutical company’s stock worth $357,069,000 after acquiring an additional 4,769,885 shares in the last quarter. Nordea Investment Management AB boosted its stake in Bristol-Myers Squibb by 20.8% during the fourth quarter. Nordea Investment Management AB now owns 18,130,455 shares of the biopharmaceutical company’s stock worth $1,136,598,000 after acquiring an additional 3,124,811 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $150,857,000. Finally, Jennison Associates LLC lifted its stake in shares of Bristol-Myers Squibb by 94.6% in the fourth quarter. Jennison Associates LLC now owns 3,519,826 shares of the biopharmaceutical company’s stock worth $219,461,000 after buying an additional 1,711,339 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

A number of analysts have commented on BMY shares. StockNews.com started coverage on shares of Bristol-Myers Squibb in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Truist Financial upped their target price on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Guggenheim upped their target price on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a research report on Monday, May 2nd. Finally, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Buy” and an average target price of $71.33.

Shares of BMY traded down $0.50 during midday trading on Friday, hitting $75.80. The stock had a trading volume of 13,773,108 shares, compared to its average volume of 14,853,342. Bristol-Myers Squibb has a 1 year low of $53.22 and a 1 year high of $78.17. The firm has a market cap of $161.38 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.61 and a beta of 0.49. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.23. The stock’s 50 day moving average is $74.15 and its 200 day moving average is $66.36.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $11.65 billion for the quarter, compared to the consensus estimate of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 7.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, March 31st. Bristol-Myers Squibb’s dividend payout ratio is presently 76.60%.

In other news, CEO Giovanni Caforio sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $71.52, for a total value of $1,788,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Karen Murphy Santiago sold 6,577 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $69.19, for a total transaction of $455,062.63. The disclosure for this sale can be found here. Insiders sold a total of 165,668 shares of company stock worth $11,459,888 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Company Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

Further Reading

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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