Procyon Advisors LLC Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Posted by Defense World Staff on Mar 27th, 2023

Procyon Advisors LLC increased its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 14.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,585 shares of the biopharmaceutical company’s stock after acquiring an additional 1,365 shares during the period. Procyon Advisors LLC’s holdings in Bristol-Myers Squibb were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. New Millennium Group LLC purchased a new position in Bristol-Myers Squibb in the 2nd quarter worth $31,000. My Personal CFO LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $35,000. Clear Investment Research LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $36,000. Western Pacific Wealth Management LP grew its position in Bristol-Myers Squibb by 878.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 492 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ann Powell sold 11,183 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the completion of the transaction, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Ann Powell sold 11,183 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the completion of the transaction, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Giovanni Caforio sold 240,000 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the transaction, the chief executive officer now owns 236,104 shares of the company’s stock, valued at approximately $17,625,163.60. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Bristol-Myers Squibb in a research report on Monday, March 6th. They set a “hold” rating and a $62.00 price target on the stock. Morgan Stanley raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Cantor Fitzgerald assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, January 17th. They set an “overweight” rating and a $95.00 target price on the stock. Atlantic Securities raised their target price on Bristol-Myers Squibb from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, StockNews.com started coverage on Bristol-Myers Squibb in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Bristol-Myers Squibb Stock Up 1.0 %

Shares of NYSE BMY opened at $67.68 on Monday. The firm has a market cap of $142.05 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.46 and a beta of 0.46. The company has a quick ratio of 1.14, a current ratio of 1.25 and a debt-to-equity ratio of 1.13. Bristol-Myers Squibb has a 52-week low of $65.28 and a 52-week high of $81.43. The business’s 50 day moving average is $70.52 and its two-hundred day moving average is $72.90.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.71 by $0.11. The business had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Research analysts predict that Bristol-Myers Squibb will post 8.06 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a $0.57 dividend. The ex-dividend date is Thursday, April 6th. This represents a $2.28 annualized dividend and a dividend yield of 3.37%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 77.29%.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.