Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 41.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,585 shares of the biopharmaceutical company’s stock after buying an additional 5,742 shares during the period. Quadcap Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BMY. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Transce3nd LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $34,000. Westend Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $38,000. Finally, Tacita Capital Inc purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $44.06 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The business has a 50-day moving average of $53.69 and a two-hundred day moving average of $56.06. The stock has a market capitalization of $89.67 billion, a P/E ratio of -9.97, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results 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. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the firm earned ($4.40) earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.63%. Bristol-Myers Squibb’s dividend payout ratio is presently 92.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BMY. Piper Sandler began coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group lowered their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Argus upgraded Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

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.