Bristol Myers Squibb Company (NYSE:BMY) Shares Purchased by Norden Group LLC

Norden Group LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,820 shares of the biopharmaceutical company’s stock after acquiring an additional 744 shares during the period. Bristol Myers Squibb accounts for 0.7% of Norden Group LLC’s holdings, making the stock its 27th largest position. Norden Group LLC’s holdings in Bristol Myers Squibb were worth $5,661,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $26,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $28,000. Global Wealth Strategies & Associates grew 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 valued at $29,000 after buying an additional 275 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the 1st quarter valued at $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

BMY opened at $48.44 on Monday. The stock’s 50-day moving average price is $47.67 and its 200 day moving average price is $52.59. Bristol Myers Squibb Company has a 12-month low of $44.00 and a 12-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. The firm has a market cap of $98.57 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.53 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last posted its 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 firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the prior year, the company earned ($4.40) EPS. Bristol Myers Squibb’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.12%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 92.88%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research note on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.53.

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.