Fairvoy Private Wealth LLC Acquires Shares of Bristol-Myers Squibb

During the 4th quarter, Fairvoy Private Wealth LLC made a significant move by purchasing a new stake in Bristol-Myers Squibb (NYSE:BMY). According to the most recent filing with the Securities and Exchange Commission, the firm acquired 21,925 shares of the biopharmaceutical company, which is valued at around $1,240,000.

Other institutional investors have also recently bought and sold shares of Bristol-Myers Squibb. For instance, Reston Wealth Management LLC entered a new position in the 3rd quarter worth approximately $25,000. Similarly, Hollencrest Capital Management increased its stake by 61.3% in the same period and now holds 492 shares valued at about $25,000 after an additional purchase of 187 shares. Kennebec Savings Bank and Darwin Wealth Management LLC also made new investments, valued at around $28,000 and $29,000 respectively. Valued Wealth Advisors LLC significantly boosted its position in the stock by 1,168.1% during the 3rd quarter, owning 596 shares worth $31,000 after acquiring an extra 549 shares. Overall, institutional investors own 76.41% of Bristol-Myers Squibb’s stock.

Recent Analyst Recommendations

Recently, several equities research analysts have shared their insights on Bristol-Myers Squibb. Cantor Fitzgerald raised its target price from $50.00 to $55.00 and assigned a "neutral" rating. Likewise, Bank of America maintained a "neutral" rating with a target of $63.00. Jefferies Financial Group upgraded its rating from "hold" to "buy," increasing its price target from $63.00 to $70.00. Moreover, analysts at Leerink Partners changed their rating from "hold" to "strong-buy" while Daiwa Capital Markets upgraded their stance to "outperform." In summary, the stock has received varied ratings: two analysts have given it a sell rating, twelve rated it as hold, four designated it as buy, and three labeled it as strong buy. The consensus rating among analysts is "Hold" with an average price target set at $57.14.

Bristol-Myers Squibb Stock Overview

Bristol-Myers Squibb's shares were priced at $57.43 during Friday’s market opening. The company has maintained a quick ratio of 1.09 and a current ratio of 1.24, while its debt-to-equity ratio stands at 2.83. The 50-day moving average price for the stock is $57.65, and the 200-day average price is $53.63. Over the last twelve months, the company’s stock hit a low of $39.35 and a peak of $61.10.

Earnings Reports and Dividend Increase

The last earnings report was released on February 6th, where Bristol-Myers Squibb presented earnings of $1.67 per share, surpassing the expected $1.47. The company reported a return on equity of 11.94% but faced a negative net margin of 15.30%. Predictive analysis suggests Bristol-Myers Squibb could report 0.92 earnings per share in the ongoing year.

Recently, Bristol-Myers Squibb announced an increase in its quarterly dividend, which was paid out on February 3rd. Shareholders recorded on January 3rd received a dividend of $0.62 each. This dividend reflects an increase from the previous $0.60 per share. With this adjustment, Bristol-Myers Squibb now has an annualized dividend of $2.48 and a yield of 4.32%, maintaining a payout ratio of -69.08%.

Company Overview

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products globally. The company’s portfolio includes treatments for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. Some of their notable products are Eliquis, Opdivo, Pomalyst, Orencia, and Sprycel, which target various serious medical conditions.

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