Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Pure Financial Advisors LLC

Pure Financial Advisors LLC lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 17.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,174 shares of the biopharmaceutical company’s stock after purchasing an additional 1,366 shares during the period. Pure Financial Advisors LLC’s holdings in Bristol Myers Squibb were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter worth $1,989,525,000. Ameriprise Financial Inc. raised its stake in Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after purchasing an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bristol Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after buying an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $257,618,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BMY shares. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $46.68 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. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The firm has a market cap of $95.01 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.38. The company’s 50 day moving average is $47.96 and its two-hundred day moving average is $54.02.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the firm earned ($4.40) earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, 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 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.31%. Bristol Myers Squibb’s payout ratio is 92.88%.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

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.