Elevation Point Wealth Partners LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,420 shares of the biopharmaceutical company’s stock, valued at approximately $773,000.
Several other large investors have also recently made changes to their positions in the stock. Alta Advisers Ltd purchased a new position in Bristol Myers Squibb during the 2nd quarter valued at about $447,000. Daiichi Life Insurance Co. Ltd. purchased a new stake in Bristol Myers Squibb during the second quarter worth about $5,742,000. Commerce Bank purchased a new stake in Bristol Myers Squibb during the second quarter worth about $16,142,000. GQG Partners LLC acquired a new stake in shares of Bristol Myers Squibb during the second quarter worth about $5,547,000. Finally, Quantbot Technologies LP purchased a new position in shares of Bristol Myers Squibb in the second quarter valued at approximately $1,901,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.
Bristol Myers Squibb Stock Performance
Shares of BMY opened at $67.30 on Tuesday. The company’s 50 day simple moving average is $60.77 and its 200-day simple moving average is $59.47. The firm has a market cap of $137.47 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89.
Bristol Myers Squibb Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were given a dividend of $0.63 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.7%. Bristol Myers Squibb’s dividend payout ratio is presently 55.51%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on BMY shares. Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Argus raised Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, August 5th. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Finally, Piper Sandler started coverage on shares of Bristol Myers Squibb in a report on Wednesday, August 5th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.06.
Check Out Our Latest Stock Analysis on BMY
About Bristol Myers Squibb
Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.
BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.
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