Code Waechter LLC Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Code Waechter LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,181 shares of the biopharmaceutical company's stock, valued at approximately $499,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb in the 4th quarter valued at $26,000. Fairway Wealth LLC acquired a new position in Bristol Myers Squibb in the 4th quarter valued at $28,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb in the 4th quarter valued at $28,000. Finally, Global Wealth Strategies & Associates grew its stake in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity

In related news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY traded down $1.61 during trading hours on Friday, hitting $46.91. 13,670,701 shares of the stock were exchanged, compared to its average volume of 12,830,370. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The company has a market cap of $95.47 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.43 and a beta of 0.36. The company's fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $53.28. Bristol Myers Squibb Company has a 1-year low of $39.93 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $11.20 billion for 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 firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted ($4.40) EPS. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMY shares. Jefferies Financial Group decreased their price target on shares of 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. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. 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. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average price target of $57.69.

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.