Bristol Myers Squibb Company (NYSE:BMY) Shares Bought by Kanawha Capital Management LLC

Kanawha Capital Management LLC lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,194 shares of the biopharmaceutical company’s stock after purchasing an additional 977 shares during the period. Kanawha Capital Management LLC’s holdings in Bristol Myers Squibb were worth $2,268,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at $26,000. Global Wealth Strategies & Associates lifted its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Bristol Myers Squibb during the fourth quarter worth $28,000. Finally, Fairway Wealth LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at $28,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $47.49 on Wednesday. The firm has a market capitalization of $96.65 billion, a PE ratio of 17.79, a P/E/G ratio of 1.37 and a beta of 0.36. The stock’s 50 day moving average is $47.80 and its two-hundred day moving average is $53.80. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

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 analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.40) earnings per share. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. UBS Group dropped their target price on shares of 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. Finally, William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.00.

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.