TrueWealth Advisors LLC Makes New $337,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

TrueWealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 4,496 shares of the biopharmaceutical company’s stock, valued at approximately $337,000.

Other large investors have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. lifted its stake in shares of Bristol-Myers Squibb by 239.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 239 shares during the last quarter. Nauset Wealth Management. LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Conrad Siegel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at about $28,000. Steward Financial Group LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $29,000. Finally, Horan Securities Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $29,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMY. Barclays upped their target price on Bristol-Myers Squibb from $66.00 to $68.00 in a research report on Monday, May 2nd. StockNews.com assumed coverage on Bristol-Myers Squibb in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Morgan Stanley cut their price objective on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a report on Wednesday, April 6th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 17th. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $76.00 to $81.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Moderate Buy” and an average price target of $74.17.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of NYSE BMY opened at $74.81 on Thursday. The company has a market capitalization of $159.27 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.23. The business has a 50-day moving average of $75.48 and a two-hundred day moving average of $72.39. Bristol-Myers Squibb has a 1 year low of $53.22 and a 1 year high of $80.59.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. During the same period in the previous year, the business earned $1.93 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 76.60%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $74.89, for a total value of $4,867,850.00. Following the transaction, the executive vice president now owns 308,627 shares in the company, valued at approximately $23,113,076.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the transaction, the executive vice president now owns 308,627 shares in the company, valued at approximately $23,113,076.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.