Cidel Asset Management Inc. Acquires 840 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Cidel Asset Management Inc. lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,820 shares of the biopharmaceutical company’s stock after purchasing an additional 840 shares during the period. Cidel Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $1,331,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol Myers Squibb in the 4th quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC bought a new position in Bristol Myers Squibb during the fourth quarter valued at $28,000. Finally, Global Wealth Strategies & Associates increased its holdings in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

BMY stock opened at $46.35 on Tuesday. The business’s 50-day moving average is $47.85 and its two-hundred day moving average is $53.84. The company has a market cap of $94.33 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.37 and a beta of 0.38. Bristol Myers Squibb Company has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. 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) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted ($4.40) EPS. As a group, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. 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 5.35%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BMY. Jefferies Financial Group decreased their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, UBS Group lowered their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $58.00.

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.