Fiduciary Family Office LLC Acquires Shares of 21,613 Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Fiduciary Family Office LLC purchased 21,613 shares of Bristol Myers Squibb, valued at approximately $1.32 million, indicating strong institutional interest in the biopharmaceutical company.
• Despite recent investments from multiple hedge funds, analysts remain cautious, with Citigroup lowering its price objective to $47.00 and maintaining a "neutral" rating.
• Bristol Myers Squibb reported earnings of $1.46 per share, beating expectations and showing a year-over-year revenue increase of 0.6% during the last quarter.

Fiduciary Family Office LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,613 shares of the biopharmaceutical company's stock, valued at approximately $1,318,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marcum Wealth LLC increased its holdings in shares of Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after acquiring an additional 193 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after purchasing an additional 212 shares during the last quarter. 1858 Wealth Management LLC increased its stake in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock worth $392,000 after acquiring an additional 221 shares during the last quarter. Tompkins Financial Corp boosted its position in shares of Bristol Myers Squibb by 2.5% during the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock worth $558,000 after buying an additional 225 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after purchasing an additional 225 shares during the period. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.04 during trading on Monday, hitting $45.91. The stock had a trading volume of 8,663,225 shares, compared to its average volume of 13,566,976. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a 50-day simple moving average of $47.26 and a two-hundred day simple moving average of $51.72.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 earnings per share. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Jefferies Financial Group dropped their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $56.38.

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.