Private Advisory Group LLC reduced its position in Bristol-Myers Squibb Co (NYSE:BMY) by 31.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,758 shares of the biopharmaceutical company’s stock after selling 13,599 shares during the quarter. Private Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $1,350,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Capital Financial Planning LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $28,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $26,000. Private Ocean LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $28,000. Trust Department MB Financial Bank N A purchased a new position in Bristol-Myers Squibb in the first quarter worth $32,000. Finally, James Investment Research Inc. raised its position in Bristol-Myers Squibb by 36.5% in the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 219 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on BMY shares. UBS Group dropped their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective on the stock. in a research note on Monday, May 20th. JPMorgan Chase & Co. initiated coverage on Bristol-Myers Squibb in a research note on Friday, May 3rd. They set an “overweight” rating and a $62.00 price objective on the stock. Finally, Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Tuesday, May 7th. One 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. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $55.45.
Shares of NYSE BMY traded down $0.75 during midday trading on Monday, hitting $45.24. The stock had a trading volume of 8,461,828 shares, compared to its average volume of 14,484,314. The company has a market cap of $74.57 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 2.28 and a beta of 0.73. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.69. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average of $45.66.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued 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 3.63%. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
In related news, Director Theodore R. Samuels II bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the acquisition, the director now owns 27,000 shares in the company, valued at approximately $1,276,830. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karen Murphy Santiago sold 3,065 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the sale, the insider now owns 3,066 shares in the company, valued at $145,818.96. The disclosure for this sale can be found here. Company 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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