Foundry Partners LLC Has $23.48 Million Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Foundry Partners LLC lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 385,025 shares of the biopharmaceutical company’s stock after selling 21,658 shares during the period. Bristol Myers Squibb comprises 1.2% of Foundry Partners LLC’s holdings, making the stock its 15th largest holding. Foundry Partners LLC’s holdings in Bristol Myers Squibb were worth $23,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at about $26,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at approximately $28,000. Global Wealth Strategies & Associates boosted its holdings in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMY. Jefferies Financial Group decreased their price objective on shares of 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. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research report on Thursday, July 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.69.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $47.40 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The company has a market capitalization of $96.46 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.47 and a beta of 0.36. Bristol Myers Squibb Company has a one year low of $41.61 and a one year high of $63.33. The business has a 50 day simple moving average of $47.47 and a 200 day simple moving average of $52.94.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the company earned ($4.40) EPS. The firm’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company 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 of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.23%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Bristol Myers Squibb 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.