Legacy Advisors LLC Purchases 7,598 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Legacy Advisors LLC boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 54.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,534 shares of the biopharmaceutical company’s stock after acquiring an additional 7,598 shares during the quarter. Legacy Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,313,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at about $28,000. Finally, Fairway Wealth LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at about $28,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Up 0.2%

Shares of Bristol Myers Squibb stock opened at $46.97 on Tuesday. The company has a market capitalization of $95.59 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.39 and a beta of 0.38. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 12-month low of $39.35 and a 12-month high of $63.33. The firm’s 50-day moving average price is $48.12 and its two-hundred day moving average price is $54.21.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the company posted ($4.40) EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.28%. Bristol Myers Squibb’s payout ratio is currently 92.88%.

Insider Activity

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This 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 available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMY shares. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group lowered their price target on shares of 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. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and an average price target of $58.00.

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.