GAMMA Investing LLC Acquires 6,267 Shares of Bristol Myers Squibb Company (NYSE:BMY)

GAMMA Investing LLC raised its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,685 shares of the biopharmaceutical company’s stock after buying an additional 6,267 shares during the period. GAMMA Investing LLC’s holdings in Bristol Myers Squibb were worth $2,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC grew its position in shares of Bristol Myers Squibb by 3.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 1,487 shares during the last quarter. Brighton Jones LLC grew its position in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Bristol Myers Squibb during the fourth quarter worth approximately $13,094,000. Whipplewood Advisors LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter worth approximately $82,000. Finally, NewEdge Wealth LLC grew its position in Bristol Myers Squibb by 23.7% during the fourth quarter. NewEdge Wealth LLC now owns 26,443 shares of the biopharmaceutical company’s stock worth $1,496,000 after buying an additional 5,073 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of analyst reports. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group reduced their price target 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. UBS Group reduced their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Bristol Myers Squibb Trading Down 0.7%

NYSE BMY opened at $46.34 on Friday. 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 twelve month low of $39.35 and a twelve month high of $63.33. The company has a market cap of $94.31 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.38. The business’s fifty day moving average is $47.90 and its 200 day moving average is $53.92.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company 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. Bristol Myers Squibb’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value 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 trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

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.