Centricity Wealth Management LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Centricity Wealth Management LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,041 shares of the biopharmaceutical company’s stock, valued at approximately $115,000.

A number of other large investors have also added to or reduced their stakes in BMY. Truist Financial Corp raised its stake in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $488,000. Inspire Trust Co. N.A. raised its position in Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.5 %

Shares of Bristol-Myers Squibb stock opened at $55.80 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The stock has a 50 day moving average price of $56.99 and a two-hundred day moving average price of $54.24. The stock has a market capitalization of $113.23 billion, a PE ratio of -12.62, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BMY shares. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.86.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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 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.