Concurrent Investment Advisors LLC Increases Stake in Bristol Myers Squibb Company (NYSE:BMY)

Concurrent Investment Advisors LLC raised its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 117.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,874 shares of the biopharmaceutical company's stock after acquiring an additional 41,504 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Bristol Myers Squibb were worth $4,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 worth $10,743,262,000 after acquiring an additional 1,373,209 shares during the period. Capital International Investors increased its holdings in Bristol Myers Squibb by 7.5% during the 4th 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 during the period. Geode Capital Management LLC increased 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 buying an additional 1,187,231 shares during the last quarter. Norges Bank bought a new position in shares of Bristol Myers Squibb in the 4th quarter worth $1,989,525,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. 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 report on Wednesday, April 23rd. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a 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 equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.00.

Bristol Myers Squibb Stock Up 1.4%

Bristol Myers Squibb stock traded up $0.64 during trading hours on Wednesday, hitting $47.68. The stock had a trading volume of 9,066,986 shares, compared to its average volume of 12,854,809. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The stock's 50-day moving average price is $47.65 and its 200-day moving average price is $53.46. Bristol Myers Squibb Company has a 12-month low of $39.71 and a 12-month high of $63.33. The stock has a market capitalization of $97.03 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.38 and a beta of 0.36.

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 net margin of 11.38% and a return on equity of 87.62%. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the previous year, the company earned ($4.40) earnings per share. The firm's quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.20%. Bristol Myers Squibb's payout ratio is currently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

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.