New Mexico Educational Retirement Board reduced its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,104 shares of the biopharmaceutical company’s stock after selling 16,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Bristol-Myers Squibb were worth $8,712,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Welch Investments LLC raised its stake in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the last quarter. Blue Chip Partners Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 17 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 504 shares during the period. American National Bank grew its holdings in Bristol-Myers Squibb by 11.7% during the second quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 225 shares during the period. Finally, Heritage Trust Co acquired a new stake in Bristol-Myers Squibb during the first quarter worth about $123,000. Hedge funds and other institutional investors own 68.90% of the company’s stock.
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A number of equities analysts have issued reports on the company. UBS AG reiterated a “buy” rating and set a $72.00 price target (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Vetr upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 target price on the stock in a research report on Monday, October 9th. BMO Capital Markets restated a “sell” rating and issued a $49.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 4th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price objective (up previously from $63.00) on shares of Bristol-Myers Squibb in a research report on Thursday, August 24th. Finally, Citigroup Inc. raised their target price on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.73.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company (NYSE BMY) opened at 59.94 on Friday. The firm’s 50-day moving average is $63.60 and its 200 day moving average is $57.54. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $66.10. The stock has a market capitalization of $98.30 billion, a PE ratio of 21.89 and a beta of 1.19.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.24% and a net margin of 20.56%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb Company will post $3.00 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 61.42%.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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