Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,398 shares of the biopharmaceutical company’s stock after buying an additional 4,647 shares during the quarter. Modern Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. United Bank grew its position in shares of Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 456 shares during the period. Centaurus Financial Inc. boosted its holdings in Bristol-Myers Squibb by 21.3% in the 3rd quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock worth $565,000 after buying an additional 1,920 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $133,000. Loomis Sayles & Co. L P raised its holdings in shares of Bristol-Myers Squibb by 29.1% during the third quarter. Loomis Sayles & Co. L P now owns 277,599 shares of the biopharmaceutical company’s stock valued at $14,363,000 after acquiring an additional 62,602 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Bristol-Myers Squibb by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock worth $88,531,000 after acquiring an additional 29,480 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Price Performance

BMY opened at $59.18 on Thursday. The firm has a market cap of $120.08 billion, a price-to-earnings ratio of -13.39, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock’s 50-day moving average price is $58.42 and its 200 day moving average price is $56.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Ratings Changes

BMY has been the topic of a number of research reports. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.86.

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.