Kovitz Investment Group Partners LLC Purchases 161,721 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Bristol Myers Squibb by 175.9% during the first quarter, owning 253,641 shares valued at approximately $15.47 million.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding estimates by $0.39, along with a revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, yielding 5.2%, but has a payout ratio of 100%.

Kovitz Investment Group Partners LLC increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 175.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,641 shares of the biopharmaceutical company's stock after purchasing an additional 161,721 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Bristol Myers Squibb were worth $15,470,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BMY. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates increased its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb in the first quarter valued at $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Piper Sandler began coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Down 0.5%

NYSE:BMY traded down $0.25 during trading hours on Monday, hitting $48.19. 7,865,214 shares of the company's stock traded hands, compared to its average volume of 12,742,200. The firm has a market cap of $98.09 billion, a P/E ratio of 7.20, a P/E/G ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock's fifty day moving average price is $47.23 and its two-hundred day moving average price is $51.39.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. On average, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

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.