Northwest & Ethical Investments L.P. Buys 57,331 Shares of Bristol-Myers Squibb (NYSE:BMY)

Northwest & Ethical Investments L.P. boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 354.6% during the fourth quarter, Holdings Channel reports. The fund owned 73,499 shares of the biopharmaceutical company’s stock after acquiring an additional 57,331 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Bristol-Myers Squibb were worth $4,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB boosted its stake in shares of Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after purchasing an additional 28,427 shares during the last quarter. United Bank boosted its stake in shares of Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 456 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company’s stock valued at $6,044,000 after purchasing an additional 5,407 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of Bristol-Myers Squibb by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 188,950 shares of the biopharmaceutical company’s stock valued at $9,776,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Bristol-Myers Squibb by 40.0% in the 3rd quarter. Prospera Financial Services Inc now owns 73,255 shares of the biopharmaceutical company’s stock valued at $3,791,000 after purchasing an additional 20,916 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $60.39 on Friday. 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 company has a market capitalization of $122.56 billion, a P/E ratio of -13.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s 50 day moving average price is $58.07 and its two-hundred day moving average price is $55.82. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.11%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMY. Truist Financial raised 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. Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Cantor Fitzgerald increased their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

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.