BBVA USA Bancshares Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 35,643 shares of the biopharmaceutical company’s stock after selling 983 shares during the period. BBVA USA Bancshares Inc.’s holdings in Bristol-Myers Squibb were worth $2,149,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Marco Investment Management LLC increased its stake in shares of Bristol-Myers Squibb by 22.9% in the 3rd quarter. Marco Investment Management LLC now owns 39,767 shares of the biopharmaceutical company’s stock worth $2,398,000 after acquiring an additional 7,400 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of Bristol-Myers Squibb by 4.1% in the 3rd quarter. Calamos Wealth Management LLC now owns 59,546 shares of the biopharmaceutical company’s stock worth $3,590,000 after acquiring an additional 2,360 shares during the last quarter. Court Place Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 2.6% during the 3rd quarter. Court Place Advisors LLC now owns 20,053 shares of the biopharmaceutical company’s stock worth $1,209,000 after purchasing an additional 500 shares during the period. First Bank & Trust grew its holdings in shares of Bristol-Myers Squibb by 293.8% during the 3rd quarter. First Bank & Trust now owns 11,730 shares of the biopharmaceutical company’s stock worth $708,000 after purchasing an additional 8,751 shares during the period. Finally, Palisade Asset Management LLC grew its holdings in shares of Bristol-Myers Squibb by 1.4% during the 3rd quarter. Palisade Asset Management LLC now owns 15,799 shares of the biopharmaceutical company’s stock worth $953,000 after purchasing an additional 225 shares during the period. 72.61% of the stock is owned by institutional investors and hedge funds.
BMY opened at $57.92 on Friday. The firm has a market cap of $131.06 billion, a price-to-earnings ratio of -579.14, a price-to-earnings-growth ratio of 1.05 and a beta of 0.71. Bristol-Myers Squibb has a 52 week low of $45.76 and a 52 week high of $68.34. The business’s 50 day moving average is $81.37 and its two-hundred day moving average is $83.34. The company has a quick ratio of 1.36, a current ratio of 1.47 and a debt-to-equity ratio of 0.85.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.48 by $0.15. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.04 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The firm’s revenue was up 61.5% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 6.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 3.11%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 38.38%.
In other Bristol-Myers Squibb news, SVP Joseph Eid sold 5,327 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.00, for a total value of $340,928.00. Following the transaction, the senior vice president now directly owns 2,534 shares in the company, valued at approximately $162,176. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Giovanni Caforio sold 39,840 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $62.70, for a total value of $2,497,968.00. Following the completion of the transaction, the chief executive officer now owns 445,584 shares in the company, valued at $27,938,116.80. The disclosure for this sale can be found here. Insiders sold a total of 186,587 shares of company stock worth $11,782,297 over the last quarter. Company insiders own 0.14% of the company’s stock.
A number of equities analysts have recently weighed in on BMY shares. JPMorgan Chase & Co. increased their price target on Bristol-Myers Squibb from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Truist started coverage on Bristol-Myers Squibb in a report on Friday, October 23rd. They set a “hold” rating and a $65.00 price target for the company. Morgan Stanley raised their target price on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Guggenheim upgraded Bristol-Myers Squibb from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, October 19th. Finally, Seaport Global Securities started coverage on Bristol-Myers Squibb in a report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $77.53.
Bristol-Myers Squibb 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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