Pegasus Partners Ltd. purchased a new stake in Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, Holdings Channel reports. The firm purchased 2,900 shares of the biopharmaceutical company’s stock, valued at approximately $213,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Jolley Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares during the last quarter. Finally, Madrona Financial Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $200,000. Institutional investors and hedge funds own 72.91% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 1.0384% during midday trading on Monday, hitting $54.4799. The stock had a trading volume of 3,722,911 shares. The firm has a 50-day moving average price of $57.04 and a 200-day moving average price of $67.06. The firm has a market capitalization of $91.03 billion, a price-to-earnings ratio of 31.8596 and a beta of 0.75. Bristol-Myers Squibb Co. has a 1-year low of $53.56 and a 1-year high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
A number of equities research analysts have weighed in on the stock. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price target for the company in a report on Monday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the sale, the director now owns 364,999 shares in the company, valued at approximately $21,596,990.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.
About Bristol-Myers Squibb
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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