Willingdon Wealth Management lowered its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 14.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,894 shares of the biopharmaceutical company’s stock after selling 2,050 shares during the period. Willingdon Wealth Management’s holdings in Bristol-Myers Squibb were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Bristol-Myers Squibb by 313.9% in the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after acquiring an additional 30,981,844 shares during the period. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $797,038,000. Janus Henderson Group PLC lifted its position in shares of Bristol-Myers Squibb by 75.7% during the 2nd quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after buying an additional 6,960,047 shares during the period. Nordea Investment Management AB lifted its position in shares of Bristol-Myers Squibb by 380.2% during the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after buying an additional 4,950,748 shares during the period. Finally, Ronna Sue Cohen lifted its position in shares of Bristol-Myers Squibb by 4,702.2% during the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock worth $1,518,000 after buying an additional 1,486,612 shares during the period. 77.37% of the stock is currently owned by hedge funds and other institutional investors.
BMY has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 target price for the company. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. Goldman Sachs Group initiated coverage on Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price for the company. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. Finally, UBS Group cut their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.34.
In other news, Director Theodore R. Samuels II bought 5,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of $47.29 per share, with a total value of $236,450.00. Following the purchase, the director now owns 27,000 shares of the company’s stock, valued at $1,276,830. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karen Murphy Santiago sold 3,065 shares of Bristol-Myers Squibb stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the completion of the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at $145,818.96. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
BMY traded down $0.03 during trading on Tuesday, hitting $46.48. The company’s stock had a trading volume of 725,615 shares, compared to its average volume of 15,124,619. The company’s 50 day moving average price is $45.27. 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 12 month low of $42.48 and a 12 month high of $63.69. The company has a market capitalization of $77.40 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.73.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were given a $0.41 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.53%. Bristol-Myers Squibb’s payout ratio is 41.21%.
Bristol-Myers Squibb 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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