Twin Capital Management Inc. lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 28.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 148,392 shares of the biopharmaceutical company’s stock after selling 58,058 shares during the quarter. Twin Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $6,730,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL raised its holdings in shares of Bristol-Myers Squibb by 5.2% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after buying an additional 5,579 shares during the period. Perella Weinberg Partners Capital Management LP raised its holdings in shares of Bristol-Myers Squibb by 10.9% in the 1st quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 1,905 shares during the period. Stephens Inc. AR raised its holdings in shares of Bristol-Myers Squibb by 30.7% in the 1st quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after buying an additional 50,798 shares during the period. Nachman Norwood & Parrott Inc raised its holdings in shares of Bristol-Myers Squibb by 3.5% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after buying an additional 1,687 shares during the period. Finally, Edge Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 217.7% in the 2nd quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock valued at $452,000 after buying an additional 6,857 shares during the period. 77.37% of the stock is currently owned by institutional investors.
NYSE BMY traded up $0.27 during trading hours on Thursday, hitting $45.91. 437,063 shares of the company were exchanged, compared to its average volume of 15,150,168. The company’s 50 day simple moving average is $45.29. 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 52-week low of $42.48 and a 52-week high of $63.69. The firm has a market capitalization of $76.06 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 2.30 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 for the quarter, topping 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 company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Bristol-Myers Squibb’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.57%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
In related news, Director Robert J. Bertolini purchased 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the acquisition, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.
BMY has been the topic of several research analyst reports. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a report on Wednesday. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, May 7th. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $53.00 to $55.00 in a report on Friday, May 3rd. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.88.
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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