Sheaff Brock Investment Advisors LLC trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 77.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,908 shares of the biopharmaceutical company’s stock after selling 99,986 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,311,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BMY. Financial Gravity Wealth Inc. acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $26,000. Private Ocean LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $28,000. Trust Department MB Financial Bank N A acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $32,000. James Investment Research Inc. raised its position 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 purchasing an additional 219 shares in the last quarter. Finally, Endurance Wealth Management Inc. raised its position in Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.
BMY has been the topic of a number of analyst reports. UBS Group reduced their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. JPMorgan Chase & Co. began coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 target price on the stock. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Barclays raised 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. Finally, Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, May 7th. One 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. The company currently has a consensus rating of “Hold” and an average price target of $55.34.
Shares of NYSE BMY traded up $0.21 during midday trading on Tuesday, hitting $46.72. 5,480,078 shares of the company’s stock were exchanged, compared to its average volume of 15,124,619. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. Bristol-Myers Squibb Co has a twelve month low of $42.48 and a twelve month high of $63.69. The company has a market cap of $77.40 billion, a P/E ratio of 11.74, a PEG ratio of 2.34 and a beta of 0.73. The firm has a fifty day simple moving average of $45.27.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. The firm 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 firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts anticipate that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.51%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
In other news, Director Robert J. Bertolini purchased 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Murphy Santiago sold 3,065 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total value of $145,771.40. Following the transaction, the insider now owns 3,066 shares in the company, valued at approximately $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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