GAMMA Investing LLC Purchases 6,267 Shares of Bristol Myers Squibb Company (NYSE:BMY)

GAMMA Investing LLC increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,685 shares of the biopharmaceutical company's stock after buying an additional 6,267 shares during the period. GAMMA Investing LLC's holdings in Bristol Myers Squibb were worth $2,420,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bedel Financial Consulting Inc. boosted its holdings in Bristol Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock valued at $340,000 after purchasing an additional 175 shares during the period. King Wealth Management Group raised its position in shares of Bristol Myers Squibb by 2.6% during the fourth quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company's stock valued at $413,000 after buying an additional 182 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of Bristol Myers Squibb by 1.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after buying an additional 190 shares during the period. Marcum Wealth LLC increased its stake in Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after acquiring an additional 193 shares during the period. Finally, Chatham Capital Group Inc. raised its holdings in Bristol Myers Squibb by 0.9% in the 4th quarter. Chatham Capital Group Inc. now owns 21,795 shares of the biopharmaceutical company's stock valued at $1,233,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Trading Up 0.2%

BMY stock traded up $0.08 during midday trading on Wednesday, reaching $47.59. The stock had a trading volume of 7,050,792 shares, compared to its average volume of 12,892,890. The firm has a market cap of $96.84 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.37 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. 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 business has a fifty day simple moving average of $47.80 and a two-hundred day simple moving average of $53.80.

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 return on equity of 87.62% and a net margin of 11.38%. The firm's revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned ($4.40) EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on shares of 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 initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.00.

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.