3,660 Shares in Bristol-Myers Squibb (NYSE:BMY) Acquired by Summitry LLC

Summitry LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,660 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp raised its holdings in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $488,000. Inspire Trust Co. N.A. raised its position in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 29,044 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the period. Finally, Bellevue Group AG bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $1,905,000. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BMY shares. Truist Financial raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $59.22 on Wednesday. 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 firm has a market cap of $120.18 billion, a PE ratio of -13.40, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a 50 day moving average of $58.36 and a 200-day moving average of $56.13. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

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.