Cary Street Partners Financial LLC Buys New Position in Bristol-Myers Squibb (NYSE:BMY)

Cary Street Partners Financial LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 40,689 shares of the biopharmaceutical company's stock, valued at approximately $2,301,000.

Several other hedge funds have also modified their holdings of the stock. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $28,000. Transce3nd LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $38,000. Finally, Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $39,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMY shares. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. Finally, Jefferies Financial Group cut their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.50 during midday trading on Friday, reaching $46.38. 14,913,246 shares of the stock traded hands, compared to its average volume of 13,105,378. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market cap of $94.39 billion, a price-to-earnings ratio of -10.49, a PEG ratio of 2.07 and a beta of 0.39. The firm has a fifty day moving average price of $54.54 and a two-hundred day moving average price of $56.21.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 previous year, the firm posted ($4.40) earnings per share. The business's revenue was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were given a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb's dividend payout ratio (DPR) is 92.88%.

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.