Flossbach Von Storch SE Makes New $699,000 Investment in Bristol Myers Squibb Company (NYSE:BMY)

Flossbach Von Storch SE bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,465 shares of the biopharmaceutical company's stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its position in Bristol Myers Squibb by 3.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,894,388 shares of the biopharmaceutical company's stock valued at $232,263,000 after acquiring an additional 111,898 shares during the last quarter. Stratos Investment Management LLC increased its stake in Bristol Myers Squibb by 22.9% during the 1st quarter. Stratos Investment Management LLC now owns 33,806 shares of the biopharmaceutical company's stock valued at $2,062,000 after purchasing an additional 6,309 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Bristol Myers Squibb during the 1st quarter valued at approximately $949,000. Davidson Investment Advisors increased its stake in Bristol Myers Squibb by 3.1% during the 1st quarter. Davidson Investment Advisors now owns 300,366 shares of the biopharmaceutical company's stock valued at $18,319,000 after purchasing an additional 9,045 shares in the last quarter. Finally, Gibraltar Capital Management Inc. increased its stake in Bristol Myers Squibb by 1.3% during the 1st quarter. Gibraltar Capital Management Inc. now owns 118,355 shares of the biopharmaceutical company's stock valued at $7,218,000 after purchasing an additional 1,487 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $1.61 during midday trading on Friday, hitting $46.91. The company's stock had a trading volume of 13,670,701 shares, compared to its average volume of 12,830,370. The business's 50 day simple moving average is $47.51 and its 200 day simple moving average is $53.25. 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 P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. Bristol Myers Squibb Company has a 12-month low of $39.93 and a 12-month 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 for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm posted ($4.40) earnings per share. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president owned 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. UBS Group cut their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Finally, Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.