Bristol-Myers Squibb (NYSE:BMY) Position Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 168,112 shares of the biopharmaceutical company’s stock after acquiring an additional 8,071 shares during the quarter. NewEdge Advisors LLC’s holdings in Bristol-Myers Squibb were worth $9,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth about $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $38,000. Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $39,000. Finally, M Holdings Securities Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $39,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BMY. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. UBS Group reduced their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.67.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of Bristol-Myers Squibb stock opened at $49.24 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The stock has a 50-day moving average price of $57.11 and a 200 day moving average price of $56.66. The company has a market cap of $100.18 billion, a P/E ratio of -11.14, a P/E/G ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.04%. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

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.