Rafferty Asset Management LLC bought a new position in Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, Holdings Channel reports. The institutional investor bought 25,579 shares of the biopharmaceutical company’s stock, valued at approximately $1,881,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pegasus Partners Ltd. bought a new stake in Bristol-Myers Squibb during the second quarter valued at $213,000. Atlanta Capital Group increased its stake in Bristol-Myers Squibb by 0.5% in the second quarter. Atlanta Capital Group now owns 46,688 shares of the biopharmaceutical company’s stock valued at $3,434,000 after buying an additional 220 shares during the last quarter. Bruderman Asset Management LLC increased its stake in Bristol-Myers Squibb by 0.4% in the second quarter. Bruderman Asset Management LLC now owns 4,258 shares of the biopharmaceutical company’s stock valued at $313,000 after buying an additional 15 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in Bristol-Myers Squibb by 25.6% in the second quarter. Thompson Davis & CO. Inc. now owns 5,153 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 1,049 shares during the last quarter. Finally, Segment Wealth Management LLC increased its stake in Bristol-Myers Squibb by 17.5% in the second quarter. Segment Wealth Management LLC now owns 6,225 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 1.0384% on Monday, hitting $54.4799. The stock had a trading volume of 3,722,911 shares. Bristol-Myers Squibb Co. has a 12 month low of $53.56 and a 12 month high of $77.12. The firm has a market cap of $91.03 billion, a P/E ratio of 31.8596 and a beta of 0.75. The firm’s 50-day moving average price is $57.04 and its 200 day moving average price is $67.06.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts anticipate that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.
Several equities analysts recently issued reports on the company. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective on the stock in a research report on Monday, July 25th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, SunTrust Banks Inc. cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $86.00 to $68.00 in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $69.91.
In other news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the sale, the director now owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by 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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