RB Capital Management LLC lowered its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,718 shares of the biopharmaceutical company’s stock after selling 509 shares during the period. RB Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $311,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BMY. American National Bank boosted its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 508 shares during the period. Welch Investments LLC raised its position in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth $116,000. State of Alaska Department of Revenue raised its position in shares of Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 60 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. raised its position in shares of Bristol-Myers Squibb by 61.8% in the first quarter. Prentiss Smith & Co. Inc. now owns 2,333 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 891 shares in the last quarter. 69.79% of the stock is owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) opened at 56.73 on Friday. The firm has a market capitalization of $93.03 billion, a PE ratio of 20.72 and a beta of 1.17. The company has a 50-day moving average of $55.80 and a 200-day moving average of $54.64. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $60.86.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts predict that Bristol-Myers Squibb Company will post $2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
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Several equities analysts have commented on BMY shares. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price objective for the company. in a research report on Monday, April 24th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday. Finally, Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $62.12.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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