Fagan Associates Inc. lifted its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 743.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,522 shares of the biopharmaceutical company's stock after acquiring an additional 46,295 shares during the period. Fagan Associates Inc.'s holdings in Bristol Myers Squibb were worth $3,203,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in shares of Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $13,094,000. Proficio Capital Partners LLC acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $240,000. Madison Investment Advisors LLC acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $213,000. Finally, Thrivent Financial for Lutherans raised its holdings in Bristol Myers Squibb by 42.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 166,479 shares of the biopharmaceutical company's stock worth $9,450,000 after purchasing an additional 49,678 shares during the period. 76.41% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction dated 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 in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BMY shares. 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 price target for the company. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley dropped their price objective on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, UBS Group lowered their price objective on 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 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.69.
Get Our Latest Stock Analysis on Bristol Myers Squibb
Bristol Myers Squibb Price Performance
NYSE:BMY traded down $0.38 during mid-day trading on Monday, hitting $46.98. The company's stock had a trading volume of 1,151,682 shares, compared to its average volume of 13,389,141. The company has a market capitalization of $95.61 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.48 and a beta of 0.36. The stock has a fifty day moving average of $47.47 and a 200-day moving average of $52.89. Bristol Myers Squibb Company has a fifty-two week low of $41.90 and a fifty-two week high of $63.33. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the business posted ($4.40) earnings per share. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS 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. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.28%. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.
Bristol Myers Squibb Profile
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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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