Truvestments Capital LLC Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Truvestments Capital LLC raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,802 shares of the biopharmaceutical company’s stock after buying an additional 581 shares during the quarter. Truvestments Capital LLC’s holdings in Bristol-Myers Squibb were worth $385,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $85,000. EverSource Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 15.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,604 shares of the biopharmaceutical company’s stock valued at $430,000 after purchasing an additional 1,015 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 6.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 151,700 shares of the biopharmaceutical company’s stock valued at $8,580,000 after purchasing an additional 8,745 shares during the last quarter. Moors & Cabot Inc. grew its stake in Bristol-Myers Squibb by 14.9% during the 4th quarter. Moors & Cabot Inc. now owns 89,229 shares of the biopharmaceutical company’s stock valued at $5,047,000 after purchasing an additional 11,578 shares during the last quarter. Finally, Natural Investments LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $393,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $59.83 on Thursday. The business has a 50 day simple moving average of $57.69 and a two-hundred day simple moving average of $55.41. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market capitalization of $121.40 billion, a P/E ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Company Profile

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.