Aspire Growth Partners LLC Buys New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Aspire Growth Partners LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,684 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 18.7% during the third quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after acquiring an additional 6,954 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Bristol-Myers Squibb by 4.4% in the third quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company’s stock worth $127,205,000 after purchasing an additional 102,790 shares during the last quarter. Versant Capital Management Inc increased its holdings in Bristol-Myers Squibb by 14.0% during the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock valued at $4,451,000 after purchasing an additional 9,692 shares during the period. GAMMA Investing LLC raised its position in Bristol-Myers Squibb by 22.0% during the 4th quarter. GAMMA Investing LLC now owns 33,418 shares of the biopharmaceutical company’s stock valued at $1,890,000 after purchasing an additional 6,032 shares during the last quarter. Finally, First City Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 1.0% in the 4th quarter. First City Capital Management Inc. now owns 21,164 shares of the biopharmaceutical company’s stock worth $1,197,000 after buying an additional 219 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. UBS Group dropped their price target 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. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Truist Financial upped 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Stock Up 1.9 %

NYSE:BMY opened at $50.56 on Friday. The firm has a 50-day simple moving average of $55.68 and a two-hundred day simple moving average of $56.37. The firm has a market cap of $102.89 billion, a P/E ratio of -11.44, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb 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 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned ($4.40) EPS. Analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.91%. Bristol-Myers Squibb’s payout ratio is 92.88%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

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.