Freedom Investment Management Inc. Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Freedom Investment Management Inc. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 51.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,806 shares of the biopharmaceutical company’s stock after purchasing an additional 6,040 shares during the period. Freedom Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $38,000. Tacita Capital Inc bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $39,000. Finally, M Holdings Securities Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $39,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.24 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 stock’s fifty day moving average is $56.98 and its 200 day moving average is $56.64. The firm has a market capitalization of $100.18 billion, a PE ratio of -11.14, a PEG ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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 is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.04%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Ratings Changes

Several analysts have recently commented on BMY shares. Cantor Fitzgerald raised their price objective 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. Citigroup raised 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. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. UBS Group reduced their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.67.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Company 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.