Empire Financial Management Company LLC Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Empire Financial Management Company LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,940 shares of the biopharmaceutical company's stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $1,989,525,000. Wellington Management Group LLP boosted its position in shares of Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares during the period. Raymond James Financial Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth $257,618,000. Schroder Investment Management Group boosted its stake in shares of Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock valued at $639,837,000 after purchasing an additional 3,787,075 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Bristol-Myers Squibb by 72.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after purchasing an additional 3,275,061 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BMY. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a research note on Friday. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday. Finally, UBS Group decreased their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company's stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.72 on Tuesday, hitting $49.18. The company's stock had a trading volume of 7,217,157 shares, compared to its average volume of 12,638,710. The company has a market capitalization of $100.07 billion, a price-to-earnings ratio of -11.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. 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 firm has a fifty day moving average price of $56.24 and a 200-day moving average price of $56.50.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the company posted ($4.40) EPS. The business's quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.04%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

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.