Range Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,764 shares of the biopharmaceutical company’s stock, valued at approximately $1,005,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mizuho Securities Co. Ltd. lifted its position in shares of Bristol-Myers Squibb by 239.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 239 shares during the last quarter. Spectrum Management Group LLC lifted its position 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 valued at $25,000 after acquiring an additional 181 shares during the last quarter. Nauset Wealth Management. LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $27,000. Conrad Siegel Investment Advisors Inc. purchased a new position in Bristol-Myers Squibb in the first quarter worth $28,000. Finally, Evolution Advisers Inc. acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth $29,000. 76.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on BMY. Atlantic Securities raised their price objective on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group boosted their price target on Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Citigroup reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. JPMorgan Chase & Co. upped their price target on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Finally, BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.00.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. During the same period in the prior year, the company posted $1.93 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 7.51 EPS for the current fiscal year.
Bristol-Myers Squibb Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 1st were given a $0.54 dividend. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.04%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 71.76%.
About Bristol-Myers Squibb
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.
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