MFG Wealth Management Inc. Buys New Position in Bristol-Myers Squibb (NYSE:BMY)

MFG Wealth Management Inc. purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,397 shares of the biopharmaceutical company’s stock, valued at approximately $1,719,000.

Several other hedge funds have also made changes to their positions in BMY. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management increased its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.4 %

BMY opened at $56.17 on Thursday. The firm has a market cap of $113.92 billion, a price-to-earnings ratio of -12.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The business’s 50 day moving average is $57.42 and its two-hundred day moving average is $54.00. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating 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 13.81%. On average, research analysts predict that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.42%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Citigroup boosted their price target 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 lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.86.

About Bristol-Myers Squibb

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.