Bradley Foster & Sargent Inc. CT decreased its stake in Bristol-Myers Squibb Co. (NYSE:BMY) by 13.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 96,316 shares of the biopharmaceutical company’s stock after selling 15,471 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Bristol-Myers Squibb were worth $7,084,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Taylor Cottrill Erickson & Associates Inc. acquired a new position in shares of Bristol-Myers Squibb during the second quarter valued at $774,000. Teacher Retirement System of Texas boosted its position in Bristol-Myers Squibb by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 1,018,549 shares of the biopharmaceutical company’s stock worth $74,914,000 after buying an additional 26,552 shares during the period. Edge Asset Management Inc. boosted its position in Bristol-Myers Squibb by 30.5% in the second quarter. Edge Asset Management Inc. now owns 351,767 shares of the biopharmaceutical company’s stock worth $25,872,000 after buying an additional 82,298 shares during the period. Intersect Capital LLC boosted its position in Bristol-Myers Squibb by 1.6% in the second quarter. Intersect Capital LLC now owns 10,152 shares of the biopharmaceutical company’s stock worth $747,000 after buying an additional 156 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in Bristol-Myers Squibb by 2.3% in the second quarter. Capital Advisors Inc. OK now owns 111,665 shares of the biopharmaceutical company’s stock worth $8,213,000 after buying an additional 2,461 shares during the period. Institutional investors and hedge funds own 72.91% of the company’s stock.
Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.69% during midday trading on Friday, reaching $55.43. 12,714,378 shares of the company’s stock traded hands. Bristol-Myers Squibb Co. has a 1-year low of $53.56 and a 1-year high of $77.12. The firm’s 50-day moving average is $56.41 and its 200-day moving average is $66.79. The company has a market capitalization of $92.62 billion, a price-to-earnings ratio of 32.42 and a beta of 0.74.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The company’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Analysts forecast that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The firm 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. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
A number of research firms recently weighed in on BMY. Vetr upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research note on Monday, July 25th. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. BMO Capital Markets restated a “market perform” rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. Zacks Investment Research cut 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. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $69.91.
In other news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the transaction, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a legal 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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