Bristol Myers Squibb Company $BMY Shares Newly Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,809 shares of the biopharmaceutical company’s stock, valued at approximately $1,798,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMY. Lazard Asset Management LLC lifted its holdings in shares of Bristol Myers Squibb by 23.7% during the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company’s stock valued at $116,693,000 after purchasing an additional 368,193 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at $3,575,000. Saudi Central Bank increased its stake in Bristol Myers Squibb by 90.2% in the 2nd quarter. Saudi Central Bank now owns 142,922 shares of the biopharmaceutical company’s stock worth $8,235,000 after purchasing an additional 67,780 shares in the last quarter. BlackRock Inc. increased its stake in Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Bristol Myers Squibb by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,142,754 shares of the biopharmaceutical company’s stock worth $123,465,000 after purchasing an additional 317,360 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BMY shares. Wells Fargo & Company reduced their price objective on shares of Bristol Myers Squibb from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. HSBC reiterated a “hold” rating and issued a $65.00 target price (up from $60.00) on shares of Bristol Myers Squibb in a report on Thursday, September 10th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, October 12th. Truist Financial set a $70.00 price target on shares of Bristol Myers Squibb in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.46.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $62.95 on Tuesday. Bristol Myers Squibb Company has a 1-year low of $45.26 and a 1-year high of $68.64. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $128.59 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.31 and a beta of 0.19. The stock’s fifty day simple moving average is $62.71 and its 200-day simple moving average is $59.97.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the prior year, the business earned $1.63 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.40 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were issued a $0.63 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio is currently 55.88%.

Insider Activity

In other news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.