Graves Light Private Wealth Management Inc. boosted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 522.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,371 shares of the biopharmaceutical company’s stock after acquiring an additional 32,211 shares during the quarter. Graves Light Private Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,740,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in BMY. Financial Gravity Wealth Inc. acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $26,000. Capital Financial Planning LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $28,000. Private Ocean LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $28,000. Trust Department MB Financial Bank N A acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at $32,000. Finally, James Investment Research Inc. grew its stake in Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 219 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BMY opened at $45.99 on Friday. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $63.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The business’s fifty day simple moving average is $45.66. The firm has a market cap of $73.94 billion, a PE ratio of 11.56, a PEG ratio of 2.24 and a beta of 0.73.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb Co will post 4.26 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.57%. Bristol-Myers Squibb’s payout ratio is 41.21%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, May 7th. Argus cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research note on Monday, May 20th. ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. began coverage on shares of Bristol-Myers Squibb in a research note on Friday, May 3rd. They set an “overweight” rating and a $62.00 target price on the stock. Finally, Goldman Sachs Group began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.45.
In other news, Director Theodore R. Samuels II purchased 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $47.29 per share, with a total value of $236,450.00. Following the transaction, the director now owns 27,000 shares in the company, valued at approximately $1,276,830. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the transaction, the insider now directly owns 3,066 shares in the company, valued at approximately $145,818.96. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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