Forbes J M & Co. LLP Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Forbes J M & Co. LLP boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 34.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,810 shares of the biopharmaceutical company’s stock after purchasing an additional 2,783 shares during the period. Forbes J M & Co. LLP’s holdings in Bristol-Myers Squibb were worth $611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BMY shares. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. 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 note on Tuesday, November 12th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Truist Financial lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given 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, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $56.96 on Friday. The company has a market cap of $115.51 billion, a price-to-earnings ratio of -15.86, a P/E/G ratio of 2.10 and a beta of 0.45. The business’s fifty day simple moving average is $57.56 and its two-hundred day simple moving average is $53.75. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -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.