Cutler Investment Counsel LLC lifted its position in Bristol-Myers Squibb Co (NYSE:BMY) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,381 shares of the biopharmaceutical company’s stock after acquiring an additional 3,062 shares during the period. Bristol-Myers Squibb accounts for about 2.2% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 18th largest holding. Cutler Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $9,330,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Bristol-Myers Squibb by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock valued at $6,611,829,000 after buying an additional 333,685 shares in the last quarter. BlackRock Inc. increased its position in Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after buying an additional 2,367,864 shares in the last quarter. Dodge & Cox increased its position in Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock valued at $1,648,168,000 after buying an additional 459,271 shares in the last quarter. Jennison Associates LLC increased its position in Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after buying an additional 3,735,453 shares in the last quarter. Finally, Northern Trust Corp increased its position in Bristol-Myers Squibb by 3.9% during the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock valued at $1,339,612,000 after buying an additional 910,496 shares in the last quarter. 69.74% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on BMY shares. SunTrust Banks raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report 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 objective for the company in a research report on Wednesday, November 1st. Vetr lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $59.70 price objective for the company. in a research report on Thursday, December 28th. Barclays raised their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $65.11.
In other news, Director Theodore R. Samuels II purchased 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the purchase, the director now directly owns 22,000 shares in the company, valued at approximately $1,370,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the completion of the transaction, the executive vice president now owns 584,373 shares in the company, valued at $37,031,717.01. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Shares of Bristol-Myers Squibb Co (BMY) opened at $62.28 on Friday. 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 Co has a 52 week low of $46.01 and a 52 week high of $66.10. The company has a market capitalization of $101,197.17, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.14 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate 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 business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. equities research analysts anticipate that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.99%.
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Bristol-Myers Squibb Company 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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