Summit Financial LLC Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Summit Financial LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,233 shares of the biopharmaceutical company’s stock after selling 1,916 shares during the period. Summit Financial LLC’s holdings in Bristol-Myers Squibb were worth $805,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $28,000. Dunhill Financial LLC increased its stake in Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $39,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Cantor Fitzgerald upped their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $59.59 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a market cap of $121.25 billion, a PE ratio of -13.48, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business has a 50-day simple moving average of $58.74 and a two-hundred day simple moving average of $56.54.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Bristol-Myers Squibb 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.