State of Wyoming Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

State of Wyoming grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 317.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,987 shares of the biopharmaceutical company’s stock after buying an additional 6,074 shares during the quarter. State of Wyoming’s holdings in Bristol-Myers Squibb were worth $452,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BMY. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $39,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $39,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $47.22 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm’s 50-day moving average price is $52.80 and its two-hundred day moving average price is $55.94. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market capitalization of $96.10 billion, a P/E ratio of -10.68, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter last year, the business posted ($4.40) EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company 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 of this dividend was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.25%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group dropped their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Finally, Piper Sandler began coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $58.00.

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.