Louisiana State Employees Retirement System decreased its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,500 shares of the biopharmaceutical company’s stock after selling 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Bristol-Myers Squibb were worth $8,054,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Destination Wealth Management purchased a new stake in Bristol-Myers Squibb during the second quarter worth $334,000. Albion Financial Group UT raised its stake in Bristol-Myers Squibb by 32.5% in the second quarter. Albion Financial Group UT now owns 7,344 shares of the biopharmaceutical company’s stock worth $540,000 after buying an additional 1,800 shares during the period. Bank of Montreal Can purchased a new stake in Bristol-Myers Squibb during the second quarter worth $154,732,000. MSI Financial Services Inc raised its stake in Bristol-Myers Squibb by 14.4% in the second quarter. MSI Financial Services Inc now owns 148,401 shares of the biopharmaceutical company’s stock worth $10,915,000 after buying an additional 18,655 shares during the period. Finally, Financial Architects Inc raised its stake in Bristol-Myers Squibb by 4.4% in the second quarter. Financial Architects Inc now owns 15,167 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 638 shares during the period. 72.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.69% on Friday, hitting $55.43. 12,714,378 shares of the company 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 firm has a market capitalization of $92.62 billion, a P/E 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 for the quarter, beating the Zacks’ 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 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 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. On average, analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.
A number of brokerages have recently commented on BMY. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Citigroup Inc. decreased their price target on shares of Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Jefferies Group reissued a “hold” rating and issued a $57.00 price target (down previously from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Barclays PLC decreased 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 report on Friday, September 9th. Finally, Leerink Swann reissued a “buy” rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, September 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the transaction, the director now owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.
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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