Baillie Gifford & Co. reduced its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 25.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,785 shares of the biopharmaceutical company’s stock after selling 61,640 shares during the period. Baillie Gifford & Co.’s holdings in Bristol-Myers Squibb were worth $13,518,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of BMY. Jolley Asset Management LLC raised its position in 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. purchased a new position in Bristol-Myers Squibb during the second quarter worth about $163,000. Solaris Asset Management LLC raised its position in 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. raised its position in 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 purchased a new position in Bristol-Myers Squibb during the second quarter worth about $200,000. 72.91% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.213% during mid-day trading on Friday, reaching $53.985. 5,260,338 shares of the company’s stock traded hands. Bristol-Myers Squibb Co. has a 1-year low of $53.76 and a 1-year high of $77.12. The firm has a 50-day moving average price of $57.24 and a 200-day moving average price of $67.13. The stock has a market cap of $90.20 billion, a P/E ratio of 31.570 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
A number of research analysts have issued reports on the stock. Morgan Stanley lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research note on Friday, August 5th. Jefferies Group reissued a “hold” rating and set a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Finally, Barclays PLC dropped their price target on shares of Bristol-Myers Squibb from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $69.91.
In related news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by corporate 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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