Summit Global Investments Acquires New Position in Bristol Myers Squibb Company $BMY

Summit Global Investments bought a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,933 shares of the biopharmaceutical company’s stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter worth $25,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb in the second quarter valued at about $25,000. Harbor Capital Advisors Inc. raised its stake in shares of Bristol Myers Squibb by 107.2% in the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 313 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 428 shares during the period. Finally, DHJJ Financial Advisors Ltd. boosted its position in Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 1.4%

BMY stock opened at $55.03 on Friday. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The firm has a market cap of $112.02 billion, a P/E ratio of 18.59, a PEG ratio of 0.17 and a beta of 0.29. The company’s 50-day simple moving average is $53.41 and its 200-day simple moving average is $48.64.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.Bristol Myers Squibb’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 EPS. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio is currently 85.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMY shares. Truist Financial set a $65.00 price target on shares of Bristol Myers Squibb in a research report on Wednesday, December 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $37.00 price target (up from $36.00) on shares of Bristol Myers Squibb in a research report on Friday, December 12th. Finally, Scotiabank reissued a “sector perform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.43.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.