Demars Financial Group LLC Invests $49.87 Million in Bristol-Myers Squibb (NYSE:BMY)

Demars Financial Group LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 881,642 shares of the biopharmaceutical company's stock, valued at approximately $49,866,000.

Other large investors also recently modified their holdings of the company. MSH Capital Advisors LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $534,000. Zacks Investment Management lifted its holdings in shares of Bristol-Myers Squibb by 4,936.4% in the 4th quarter. Zacks Investment Management now owns 250,965 shares of the biopharmaceutical company's stock worth $14,195,000 after purchasing an additional 245,982 shares during the last quarter. NewEdge Advisors LLC boosted its position in Bristol-Myers Squibb by 5.0% during the 4th quarter. NewEdge Advisors LLC now owns 168,112 shares of the biopharmaceutical company's stock valued at $9,508,000 after purchasing an additional 8,071 shares during the period. Resurgent Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 21.2% during the 4th quarter. Resurgent Financial Advisors LLC now owns 5,314 shares of the biopharmaceutical company's stock worth $301,000 after buying an additional 931 shares during the last quarter. Finally, Stonehaven Wealth & Tax Solutions LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth $273,000. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Citigroup raised their target price 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. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, UBS Group decreased their price target on 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $57.67.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.13 on Friday, hitting $49.24. The company's stock had a trading volume of 14,244,048 shares, compared to its average volume of 12,988,386. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $100.18 billion, a price-to-earnings ratio of -11.14, a P/E/G ratio of 2.07 and a beta of 0.41. The firm's fifty day moving average price is $56.98 and its 200-day moving average price is $56.66. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts' consensus estimates 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%. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.04%. Bristol-Myers Squibb's dividend payout ratio is -56.11%.

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.