Runnymede Capital Advisors Inc. Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Runnymede Capital Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000 shares of the biopharmaceutical company’s stock, valued at approximately $57,000.

Other hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC increased its holdings in Bristol-Myers Squibb by 0.6% in the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after buying an additional 170 shares during the period. Edmp Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 171 shares during the period. Trust Point Inc. grew its stake in shares of Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 172 shares during the period. Bedel Financial Consulting Inc. grew its stake in shares of Bristol-Myers Squibb by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 175 shares during the period. Finally, Horst & Graben Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 179 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase 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 hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $61.06 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a market capitalization of $123.92 billion, a PE ratio of -13.82, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a 50-day moving average of $58.17 and a two-hundred day moving average of $55.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research reports. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.