High Pointe Capital Management LLC continued to hold its stake in Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,193 shares of the biopharmaceutical company’s stock at the end of the second quarter. Bristol-Myers Squibb makes up 1.5% of High Pointe Capital Management LLC’s investment portfolio, making the stock its 28th largest position. High Pointe Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $970,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $154,732,000. Sustainable Growth Advisers LP raised its stake in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares in the last quarter. WestEnd Advisors LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $94,956,000. Canada Pension Plan Investment Board raised its stake in Bristol-Myers Squibb by 628.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,323,821 shares of the biopharmaceutical company’s stock valued at $84,566,000 after buying an additional 1,142,200 shares in the last quarter. Finally, Montag & Caldwell LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at about $82,999,000. 72.91% of the stock is owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.213% on Friday, reaching $53.985. The company had a trading volume of 5,260,338 shares. Bristol-Myers Squibb Co. has a 1-year low of $53.76 and a 1-year high of $77.12. The company’s 50 day moving average price is $57.24 and its 200-day moving average price is $67.13. The stock has a market capitalization 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 the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.62 EPS for the current year.
The business also recently announced 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 2.82%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.
Several analysts have issued reports on BMY shares. Credit Suisse Group AG lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their price target for the company from $86.00 to $63.00 in a report on Sunday, August 7th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday. Finally, Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price objective for the company in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $69.91.
In other news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the sale, the director now owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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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