Optas LLC Purchases New Stake in Bristol-Myers Squibb (NYSE:BMY)

Optas LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, Holdings Channel.com reports. The firm acquired 4,571 shares of the biopharmaceutical company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Algert Global LLC purchased a new stake in Bristol-Myers Squibb during the second quarter worth about $328,000. AMF Tjanstepension AB boosted its stake in shares of Bristol-Myers Squibb by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after acquiring an additional 39,419 shares in the last quarter. Czech National Bank grew its holdings in shares of Bristol-Myers Squibb by 6.9% in the 3rd quarter. Czech National Bank now owns 413,002 shares of the biopharmaceutical company’s stock worth $21,369,000 after acquiring an additional 26,718 shares during the period. GAMMA Investing LLC increased its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. GAMMA Investing LLC now owns 27,386 shares of the biopharmaceutical company’s stock valued at $1,417,000 after purchasing an additional 10,410 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $201,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BMY shares. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Morgan Stanley raised their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $56.93.

Bristol-Myers Squibb Trading Down 1.3 %

BMY stock opened at $59.15 on Wednesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a market cap of $119.97 billion, a price-to-earnings ratio of -16.48, a PEG ratio of 2.10 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business has a fifty day simple moving average of $57.63 and a 200-day simple moving average of $53.47.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.