Oxford Financial Group Ltd. raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,782 shares of the biopharmaceutical company’s stock after purchasing an additional 742 shares during the period. Oxford Financial Group Ltd.’s holdings in Bristol-Myers Squibb were worth $562,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in BMY. True Wealth Design LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $26,000. Northwest Capital Management Inc purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at $26,000. Coppell Advisory Solutions Corp. bought a new position in Bristol-Myers Squibb in the 4th quarter worth $31,000. Live Oak Investment Partners purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $33,000. Finally, Strengthening Families & Communities LLC raised its holdings in Bristol-Myers Squibb by 90.0% during the first quarter. Strengthening Families & Communities LLC now owns 475 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 225 shares during the period. Institutional investors own 74.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. TD Cowen cut their target price on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, September 15th. Morgan Stanley cut their price objective on shares of Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a report on Friday, October 27th. Cantor Fitzgerald downgraded shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $55.00 in a report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $84.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $60.00 price target (down previously from $70.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $63.59.
Bristol-Myers Squibb Stock Performance
NYSE:BMY opened at $50.84 on Friday. The firm has a market capitalization of $103.45 billion, a PE ratio of 12.90, a PEG ratio of 1.62 and a beta of 0.38. The stock’s fifty day moving average is $55.60 and its 200 day moving average is $60.89. Bristol-Myers Squibb has a fifty-two week low of $49.49 and a fifty-two week high of $81.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.18.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.24. Bristol-Myers Squibb had a net margin of 18.44% and a return on equity of 51.59%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.
Bristol-Myers Squibb Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio is 57.87%.
Insider Transactions at Bristol-Myers Squibb
In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the transaction, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.
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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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