TruWealth Advisors LLC Buys New Stake in Bristol-Myers Squibb (NYSE:BMY)

TruWealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 202,426 shares of the biopharmaceutical company’s stock, valued at approximately $12,346,000.

Several other institutional investors also recently bought and sold shares of the stock. Truist Financial Corp lifted its position in 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 purchasing an additional 60,365 shares during the last quarter. Quilter Plc lifted its position in Bristol-Myers Squibb by 56.6% during the fourth quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock valued at $6,098,000 after purchasing an additional 38,977 shares during the last quarter. Advyzon Investment Management LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $458,000. Leo Wealth LLC lifted its position in Bristol-Myers Squibb by 51.5% during the fourth quarter. Leo Wealth LLC now owns 14,965 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 5,085 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Bristol-Myers Squibb by 12.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,566,160 shares of the biopharmaceutical company’s stock valued at $89,051,000 after purchasing an additional 172,439 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. UBS Group decreased their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company raised their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $48.10 on Wednesday. The company has a 50 day moving average price of $50.06 and a 200-day moving average price of $55.24. 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 fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a market capitalization of $97.88 billion, a PE ratio of -10.88, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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 negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

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.