Argentarii LLC Purchases 5,361 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Argentarii LLC grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 122.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,755 shares of the biopharmaceutical company's stock after acquiring an additional 5,361 shares during the quarter. Argentarii LLC's holdings in Bristol Myers Squibb were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Polar Asset Management Partners Inc. purchased a new position in shares of Bristol Myers Squibb in the 4th quarter worth $16,651,000. Avaii Wealth Management LLC lifted its holdings in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after acquiring an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Bristol Myers Squibb by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC increased its stake in Bristol Myers Squibb by 2.2% during the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock worth $3,305,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock valued at $33,582,000 after purchasing an additional 80,087 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 1.3%

Shares of NYSE BMY opened at $47.02 on Friday. Bristol Myers Squibb Company has a twelve month low of $39.50 and a twelve month high of $63.33. The firm has a market cap of $95.68 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.36. The business has a fifty day simple moving average of $47.73 and a two-hundred day simple moving average of $53.60. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm 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 company posted ($4.40) earnings per share. The firm's quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect 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 announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.27%. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group cut 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. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $58.00.

Insider Transactions at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol Myers Squibb stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president owned 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

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.

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