Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Forbes J M & Co. LLP

Forbes J M & Co. LLP increased its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 0.6% in the first quarter, HoldingsChannel.com reports. The firm owned 139,363 shares of the biopharmaceutical company’s stock after buying an additional 822 shares during the period. Forbes J M & Co. LLP’s holdings in Bristol-Myers Squibb were worth $10,178,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. raised its stake in Bristol-Myers Squibb by 239.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 239 shares in the last quarter. Spectrum Management Group LLC boosted its holdings in Bristol-Myers Squibb by 113.1% during the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 181 shares in the last quarter. Nauset Wealth Management. LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth about $27,000. Conrad Siegel Investment Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $28,000. Finally, Steward Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $72.12 on Friday. The stock has a market cap of $153.99 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.53 and a beta of 0.40. The stock’s fifty day simple moving average is $75.00 and its two-hundred day simple moving average is $72.79. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.50 billion. During the same period in the previous year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 7.53 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, June 30th. Bristol-Myers Squibb’s payout ratio is 71.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMY shares. Raymond James lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 17th. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a report on Monday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and an average target price of $75.57.

Insider Transactions at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the transaction, the chief executive officer now owns 551,104 shares of the company’s stock, valued at approximately $40,803,740.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Sandra Leung sold 65,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $74.89, for a total value of $4,867,850.00. Following the sale, the executive vice president now directly owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the sale, the chief executive officer now directly owns 551,104 shares in the company, valued at $40,803,740.16. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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