Wedbush Securities Inc. lifted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 37.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,831 shares of the biopharmaceutical company’s stock after purchasing an additional 17,226 shares during the period. Wedbush Securities Inc.’s holdings in Bristol-Myers Squibb were worth $2,849,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of BMY. Lodestar Investment Counsel LLC IL boosted its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after acquiring an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP boosted its stake in Bristol-Myers Squibb by 10.9% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 1,905 shares during the last quarter. Stephens Inc. AR boosted its stake in Bristol-Myers Squibb by 30.7% in the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after acquiring an additional 50,798 shares during the last quarter. Nachman Norwood & Parrott Inc boosted its stake in Bristol-Myers Squibb by 3.5% in the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Edge Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 217.7% in the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock valued at $452,000 after acquiring an additional 6,857 shares during the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on BMY. UBS Group reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target 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 report on Tuesday, May 7th. Barclays raised shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. Finally, BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given 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 $55.34.
In other news, Director Theodore R. Samuels II acquired 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were bought at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the purchase, the director now directly owns 27,000 shares of the company’s stock, valued at $1,276,830. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $47.56, for a total transaction of $145,771.40. Following the transaction, the insider now owns 3,066 shares in the company, valued at $145,818.96. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
BMY stock traded up $0.05 during midday trading on Tuesday, hitting $46.56. The company’s stock had a trading volume of 583,022 shares, compared to its average volume of 15,124,619. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. Bristol-Myers Squibb Co has a twelve month low of $42.48 and a twelve month high of $63.69. The business has a fifty day moving average price of $45.27. The firm has a market cap of $77.40 billion, a PE ratio of 11.72, a P/E/G ratio of 2.34 and a beta of 0.73.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the business earned $1.01 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.52%. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
About Bristol-Myers Squibb
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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