Connecticut Wealth Management LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 32.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,422 shares of the biopharmaceutical company’s stock after purchasing an additional 1,093 shares during the period. Connecticut Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $274,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in BMY. Delphi Private Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $108,000. NuWave Investment Management LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $119,000. Horan Capital Advisors LLC. acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $122,000. Prentiss Smith & Co. Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $143,000. Finally, Santori & Peters Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $144,000. Institutional investors own 71.49% of the company’s stock.
In other Bristol-Myers Squibb news, Director Dinesh C. Paliwal bought 4,770 shares of Bristol-Myers Squibb stock in a transaction on Monday, April 30th. The stock was purchased at an average cost of $52.40 per share, for a total transaction of $249,948.00. Following the completion of the purchase, the director now directly owns 8,027 shares of the company’s stock, valued at $420,614.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.
BMY has been the subject of several research reports. Jefferies Group set a $72.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, February 26th. Bank of America raised their price target on shares of Bristol-Myers Squibb from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, March 5th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Vetr cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price target for the company. in a report on Thursday, February 8th. Finally, Barclays decreased their price target on shares of Bristol-Myers Squibb from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, April 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $63.68.
Bristol-Myers Squibb opened at $52.71 on Friday, according to Marketbeat Ratings. The company has a quick ratio of 1.39, a current ratio of 1.52 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $85.34 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. Bristol-Myers Squibb has a 12-month low of $49.96 and a 12-month high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Bristol-Myers Squibb had a net margin of 4.37% and a return on equity of 37.56%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. analysts anticipate that Bristol-Myers Squibb will post 3.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Friday, April 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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