Demars Financial Group LLC Makes New $49.87 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Demars Financial Group LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 881,642 shares of the biopharmaceutical company’s stock, valued at approximately $49,866,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealthspire Advisors LLC increased its position in shares of Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 170 shares during the last quarter. Edmp Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after buying an additional 171 shares during the last quarter. Trust Point Inc. grew its position in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 172 shares during the period. Bedel Financial Consulting Inc. increased its holdings in Bristol-Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 175 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.3 %

Bristol-Myers Squibb stock opened at $49.33 on Thursday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock has a market cap of $100.37 billion, a P/E ratio of -11.16, a PEG ratio of 2.07 and a beta of 0.41. The firm’s fifty day moving average price is $57.24 and its 200-day moving average price is $56.68.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.03%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMY. UBS Group decreased their price target on shares of 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. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Truist Financial increased their target price 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $57.67.

Bristol-Myers Squibb 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.