Proactive Wealth Strategies LLC Makes New $2.32 Million Investment in Bristol Myers Squibb Company (NYSE:BMY)

Proactive Wealth Strategies LLC bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,972 shares of the biopharmaceutical company's stock, valued at approximately $2,316,000. Bristol Myers Squibb makes up approximately 1.2% of Proactive Wealth Strategies LLC's portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BridgePort Financial Solutions LLC purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at $202,000. Consolidated Portfolio Review Corp increased its stake in shares of Bristol Myers Squibb by 8.2% during the 1st quarter. Consolidated Portfolio Review Corp now owns 45,515 shares of the biopharmaceutical company's stock worth $2,776,000 after purchasing an additional 3,449 shares during the last quarter. Legacy Advisors LLC raised its holdings in shares of Bristol Myers Squibb by 54.5% in the 1st quarter. Legacy Advisors LLC now owns 21,534 shares of the biopharmaceutical company's stock worth $1,313,000 after purchasing an additional 7,598 shares during the period. Asset Management One Co. Ltd. lifted its stake in Bristol Myers Squibb by 5.2% in the first quarter. Asset Management One Co. Ltd. now owns 936,060 shares of the biopharmaceutical company's stock valued at $57,090,000 after purchasing an additional 46,208 shares during the last quarter. Finally, Chapin Davis Inc. grew its holdings in Bristol Myers Squibb by 25.2% during the first quarter. Chapin Davis Inc. now owns 29,714 shares of the biopharmaceutical company's stock valued at $1,812,000 after purchasing an additional 5,977 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

Bristol Myers Squibb Trading Up 0.2%

BMY stock opened at $46.97 on Tuesday. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The company has a market capitalization of $95.59 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The company's 50 day moving average price is $48.12 and its two-hundred day moving average price is $54.21. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. Bristol Myers Squibb's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($4.40) EPS. As a group, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler started 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 for the company. 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. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price target (down 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 assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $58.00.

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.

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