Wade G W & Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,105 shares of the biopharmaceutical company’s stock after selling 271 shares during the quarter. Wade G W & Inc.’s holdings in Bristol-Myers Squibb were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wedgewood Investors Inc. PA increased its holdings in Bristol-Myers Squibb by 17.1% in the 3rd quarter. Wedgewood Investors Inc. PA now owns 7,975 shares of the biopharmaceutical company’s stock worth $481,000 after acquiring an additional 1,166 shares in the last quarter. Vantage Financial Partners Ltd. Inc. increased its holdings in Bristol-Myers Squibb by 3.0% in the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 17,000 shares of the biopharmaceutical company’s stock worth $1,025,000 after acquiring an additional 500 shares in the last quarter. Legacy Financial Advisors Inc. purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $237,000. Kestra Private Wealth Services LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $3,759,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Bristol-Myers Squibb by 1.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 115,506 shares of the biopharmaceutical company’s stock worth $6,964,000 after acquiring an additional 1,600 shares in the last quarter. 72.61% of the stock is owned by institutional investors.
BMY has been the subject of several recent analyst reports. Seaport Global Securities initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price target for the company. Societe Generale upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Monday. Gabelli downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Berenberg Bank initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, September 29th. They issued a “buy” rating and a $73.00 price target for the company. Finally, Raymond James restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Buy” and an average target price of $73.69.
In related news, CEO Giovanni Caforio sold 39,840 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $62.70, for a total value of $2,497,968.00. Following the completion of the sale, the chief executive officer now directly owns 445,584 shares in the company, valued at $27,938,116.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.
NYSE BMY opened at $64.50 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.58 and a current ratio of 1.67. The company has a market capitalization of $145.94 billion, a P/E ratio of -586.31, a P/E/G ratio of 1.09 and a beta of 0.67. Bristol-Myers Squibb has a one year low of $45.76 and a one year high of $68.34. The stock has a 50 day moving average price of $73.56 and a 200-day moving average price of $81.39.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Tuesday, November 10th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.14. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.33 billion. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The company’s quarterly revenue was up 75.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a $0.45 dividend. The ex-dividend date was Thursday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. Bristol-Myers Squibb’s dividend payout ratio is presently 38.38%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. 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 active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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