E Fund Management Co. Ltd. Buys 4,100 Shares of Bristol-Myers Squibb (NYSE:BMY)

E Fund Management Co. Ltd. increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 61.1% in the fourth quarter, HoldingsChannel reports. The fund owned 10,811 shares of the biopharmaceutical company’s stock after purchasing an additional 4,100 shares during the period. E Fund Management Co. Ltd.’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. Hollencrest Capital Management lifted its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC raised its position in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $61.16 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $124.11 billion, a P/E ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. The stock’s 50 day moving average is $57.39 and its 200 day moving average is $55.08. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.11.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

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

Analysts Set New Price Targets

A number of research analysts have commented on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Truist Financial upped their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

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.