Inscription Capital LLC Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Inscription Capital LLC bought a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,080 shares of the biopharmaceutical company's stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Grove Bank & Trust increased its holdings in Bristol Myers Squibb by 1.9% in the first quarter. Grove Bank & Trust now owns 18,910 shares of the biopharmaceutical company's stock valued at $1,153,000 after buying an additional 360 shares during the last quarter. Signature Wealth Management Group increased its holdings in shares of Bristol Myers Squibb by 1.6% in the 1st quarter. Signature Wealth Management Group now owns 75,162 shares of the biopharmaceutical company's stock valued at $4,584,000 after acquiring an additional 1,179 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Bristol Myers Squibb by 14.2% during the 1st quarter. QRG Capital Management Inc. now owns 353,542 shares of the biopharmaceutical company's stock valued at $21,563,000 after acquiring an additional 43,977 shares in the last quarter. Sentry LLC lifted its stake in Bristol Myers Squibb by 5.2% during the first quarter. Sentry LLC now owns 18,068 shares of the biopharmaceutical company's stock worth $1,102,000 after purchasing an additional 901 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its holdings in Bristol Myers Squibb by 36.8% in the first quarter. Sagespring Wealth Partners LLC now owns 21,578 shares of the biopharmaceutical company's stock worth $1,316,000 after purchasing an additional 5,810 shares during the period. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BMY shares. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. UBS Group reduced their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and a consensus target price of $58.00.

Bristol Myers Squibb Trading Up 0.1%

BMY stock traded up $0.03 during mid-day trading on Friday, reaching $46.87. 47,283,703 shares of the stock traded hands, compared to its average volume of 13,081,192. The stock's fifty day moving average is $48.20 and its 200-day moving average is $54.35. The company has a market cap of $95.38 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.39 and a beta of 0.38. 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 Company has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the business earned ($4.40) EPS. The company's revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

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.