Cambiar Investors LLC trimmed its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,890 shares of the biopharmaceutical company’s stock after selling 19,619 shares during the quarter. Cambiar Investors LLC’s holdings in Bristol-Myers Squibb were worth $46,778,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. First Trust Advisors LP boosted its stake in Bristol-Myers Squibb by 10.7% during the 2nd quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock valued at $24,130,000 after purchasing an additional 41,892 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Bristol-Myers Squibb by 2.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 358,509 shares of the biopharmaceutical company’s stock valued at $19,976,000 after purchasing an additional 8,813 shares in the last quarter. Israel Discount Bank of New York boosted its stake in Bristol-Myers Squibb by 31.8% during the 2nd quarter. Israel Discount Bank of New York now owns 10,515 shares of the biopharmaceutical company’s stock valued at $586,000 after purchasing an additional 2,540 shares in the last quarter. Dividend Assets Capital LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at $737,000. Finally, Ffcm LLC boosted its stake in Bristol-Myers Squibb by 6.4% during the 2nd quarter. Ffcm LLC now owns 49,133 shares of the biopharmaceutical company’s stock valued at $2,738,000 after purchasing an additional 2,958 shares in the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on BMY shares. SunTrust Banks raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Wednesday, November 1st. Barclays increased their price target on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Finally, Leerink Swann increased their price target on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $65.05.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 4,000 shares of Bristol-Myers Squibb stock in a transaction dated Friday, December 15th. The stock was bought at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $62.81 on Friday. Bristol-Myers Squibb Co has a 52-week low of $46.01 and a 52-week high of $66.10. The company has a market capitalization of $102,800.00, a price-to-earnings ratio of 24.73, a PEG ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the company posted $0.77 EPS. Bristol-Myers Squibb’s revenue was up 6.7% on a year-over-year basis. sell-side analysts forecast that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, January 4th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio is 62.99%.
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Bristol-Myers Squibb Profile
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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