Bridgewater Advisors Inc. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,968 shares of the biopharmaceutical company's stock, valued at approximately $486,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in Bristol Myers Squibb in the 4th quarter worth $26,000. Transce3nd LLC bought a new position in Bristol Myers Squibb in the 4th quarter worth $28,000. Global Wealth Strategies & Associates raised its holdings in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb during the first quarter valued at about $31,000. Institutional investors own 76.41% of the company's stock.
Analyst Upgrades and Downgrades
BMY has been the subject of several recent research reports. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. UBS Group dropped their target price on 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. 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. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $57.69.
Check Out Our Latest Stock Analysis on BMY
Bristol Myers Squibb Stock Down 1.0%
Bristol Myers Squibb stock traded down $0.48 during midday trading on Friday, hitting $47.58. 2,862,464 shares of the stock were exchanged, compared to its average volume of 12,761,430. Bristol Myers Squibb Company has a 1 year low of $41.61 and a 1 year high of $63.33. The firm has a market cap of $96.84 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.43 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The company has a 50 day moving average price of $47.45 and a two-hundred day moving average price of $53.00.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the business earned ($4.40) EPS. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.
Bristol Myers Squibb Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.
Insider Activity
In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of Bristol Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
About Bristol Myers Squibb
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Free Report)
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.
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