Demars Financial Group LLC Raises Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Demars Financial Group LLC raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 966,187 shares of the biopharmaceutical company's stock after acquiring an additional 84,545 shares during the period. Demars Financial Group LLC's holdings in Bristol Myers Squibb were worth $58,928,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Bristol Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. Capital International Investors increased its position in shares of Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bristol Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after acquiring an additional 1,187,231 shares during the last quarter. Norges Bank bought a new position in Bristol Myers Squibb in the 4th quarter valued at about $1,989,525,000. Finally, Ameriprise Financial Inc. boosted its stake in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY traded up $0.03 during mid-day trading on Friday, hitting $46.87. The stock had a trading volume of 47,283,056 shares, compared to its average volume of 13,103,323. The business has a fifty day moving average price of $48.28 and a 200-day moving average price of $54.43. Bristol Myers Squibb Company has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a market cap of $95.38 billion, a P/E ratio of 17.55, a PEG ratio of 1.39 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned ($4.40) earnings per share. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. Jefferies Financial Group lowered their price objective on 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. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, UBS Group cut their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.00.

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.