Wellesley Investment Partners LLC reduced its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 25.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,611 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the period. Wellesley Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $339,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol-Myers Squibb during the second quarter worth approximately $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 in 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 in the last quarter. Finally, Madrona Financial Services LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth approximately $200,000. 72.88% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) opened at 49.55 on Wednesday. The firm has a market cap of $82.79 billion, a P/E ratio of 28.98 and a beta of 0.74. The firm’s 50-day moving average price is $55.86 and its 200-day moving average price is $66.63. Bristol-Myers Squibb Co. has a 52-week low of $49.50 and a 52-week high of $77.12.
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 the Zacks’ consensus estimate of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.07%. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
A number of equities analysts recently issued reports on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $75.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday. Barclays PLC reiterated an “equal weight” rating on shares of Bristol-Myers Squibb in a research note on Wednesday. SunTrust Banks Inc. reiterated a “hold” rating and set a $62.00 price target (down previously from $68.00) on shares of Bristol-Myers Squibb in a research note on Monday. Leerink Swann reiterated a “buy” rating and set a $69.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday. Finally, Citigroup Inc. reduced their target price on shares of Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb 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 completion of the sale, the director now directly owns 364,999 shares in the company, valued at $21,596,990.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company 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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