8,620 Shares in Bristol-Myers Squibb (NYSE:BMY) Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,620 shares of the biopharmaceutical company’s stock, valued at approximately $488,000.

A number of other institutional investors also recently bought and sold shares of BMY. Essex Savings Bank lifted its stake in shares of Bristol-Myers Squibb by 4.4% in the 4th quarter. Essex Savings Bank now owns 17,432 shares of the biopharmaceutical company’s stock worth $986,000 after purchasing an additional 733 shares during the period. Pinnacle Bancorp Inc. boosted its stake in shares of Bristol-Myers Squibb by 23.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 3,176 shares of the biopharmaceutical company’s stock worth $180,000 after acquiring an additional 600 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Bristol-Myers Squibb by 3.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,148 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 218 shares in the last quarter. Burney Co. raised its holdings in Bristol-Myers Squibb by 4.2% in the 4th quarter. Burney Co. now owns 12,753 shares of the biopharmaceutical company’s stock worth $721,000 after purchasing an additional 516 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its position in Bristol-Myers Squibb by 3.3% during the fourth quarter. Laurel Wealth Advisors LLC now owns 7,450 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BMY shares. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. UBS Group increased their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial boosted 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. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

BMY opened at $55.96 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The business’s fifty day simple moving average is $57.44 and its 200-day simple moving average is $51.76. The company has a market capitalization of $113.50 billion, a price-to-earnings ratio of -15.59, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

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.