Millstone Evans Group LLC Purchases New Holdings in Bristol-Myers Squibb (NYSE:BMY)

Millstone Evans Group LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,373 shares of the biopharmaceutical company's stock, valued at approximately $360,000.

A number of other hedge funds have also recently made changes to their positions in BMY. Swedbank AB boosted its holdings in shares of Bristol-Myers Squibb by 0.9% in the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company's stock valued at $162,440,000 after purchasing an additional 28,427 shares during the period. United Bank raised its position in Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company's stock valued at $896,000 after purchasing an additional 456 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Bristol-Myers Squibb by 4.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,801 shares of the biopharmaceutical company's stock worth $6,044,000 after buying an additional 5,407 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $3,579,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at $29,000. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Bank of America reissued a "neutral" rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company increased their target price 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. Finally, Cantor Fitzgerald boosted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $57.86.

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Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.02 during trading hours on Wednesday, reaching $59.18. 11,579,179 shares of the company traded hands, compared to its average volume of 12,163,519. 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 business has a fifty day moving average price of $58.36 and a 200-day moving average price of $56.13. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market capitalization of $120.08 billion, a P/E ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company's stock.

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.