Flagship Wealth Advisors LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Flagship Wealth Advisors LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,617 shares of the biopharmaceutical company's stock, valued at approximately $318,000.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after buying an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $488,000. Inspire Trust Co. N.A. raised its position in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock valued at $5,355,000 after purchasing an additional 29,044 shares during the period. iA Global Asset Management Inc. raised its position in Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company's stock valued at $3,972,000 after purchasing an additional 34,418 shares during the period. Finally, Bellevue Group AG purchased a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $1,905,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Citigroup upped their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $57.86.

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Bristol-Myers Squibb Trading Up 0.1 %

NYSE:BMY traded up $0.07 during midday trading on Wednesday, hitting $59.97. The stock had a trading volume of 5,046,794 shares, compared to its average volume of 12,131,802. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a market capitalization of $121.70 billion, a price-to-earnings ratio of -13.56, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day moving average of $57.93 and a 200 day moving average of $55.76. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.14%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

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.