Xponance Inc. Raises Position in Bristol Myers Squibb Company (NYSE:BMY)

Xponance Inc. increased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363,979 shares of the biopharmaceutical company's stock after purchasing an additional 30,040 shares during the quarter. Xponance Inc.'s holdings in Bristol Myers Squibb were worth $22,199,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BMY. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $13,094,000. Proficio Capital Partners LLC bought a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $240,000. Sequoia Financial Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 6.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 151,700 shares of the biopharmaceutical company's stock valued at $8,580,000 after buying an additional 8,745 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Bristol Myers Squibb by 15.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,604 shares of the biopharmaceutical company's stock worth $430,000 after buying an additional 1,015 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. UBS Group reduced their target price on 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, Piper Sandler started coverage on 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 analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.69.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb 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 of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Stock Up 1.8%

BMY opened at $48.54 on Friday. 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's fifty day simple moving average is $47.58 and its 200 day simple moving average is $53.35. Bristol Myers Squibb Company has a 52 week low of $39.93 and a 52 week high of $63.33. The stock has a market cap of $98.78 billion, a PE ratio of 18.18, a P/E/G ratio of 1.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion for 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 revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted ($4.40) EPS. As a group, 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 firm also recently announced 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 yield of 5.11%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 92.88%.

About Bristol Myers Squibb

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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