Meeder Asset Management Inc. raised its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,093 shares of the biopharmaceutical company’s stock after buying an additional 5,322 shares during the period. Meeder Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,758,000 as of its most recent SEC filing.
Other institutional investors have also 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 during the period. Univest Corp of Pennsylvania purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $202,000. Windsor Financial Group LLC purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $205,000. Verus Financial Partners Inc. purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $218,000. Finally, Grubman Wealth Management purchased a new stake in Bristol-Myers Squibb during the second quarter worth approximately $225,000. 72.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.09% during mid-day trading on Friday, hitting $53.92. The stock had a trading volume of 13,326,712 shares. The firm has a market cap of $90.09 billion, a PE ratio of 31.53 and a beta of 0.61. Bristol-Myers Squibb Co. has a 12 month low of $53.76 and a 12 month high of $77.12. The stock’s 50-day moving average is $57.04 and its 200 day moving average is $67.06.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities research analysts predict that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders 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 is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
A number of equities research analysts recently commented on BMY shares. Credit Suisse Group AG downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $63.00 in a research report on Sunday, August 7th. Morgan Stanley reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Jefferies Group reiterated a “hold” rating and issued a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $75.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Finally, Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 target price on the stock in a research report on Tuesday, August 9th. Two equities 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 given a strong buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $69.91.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $74.45, for a total value of $1,727,240.00. Following the sale, the director now owns 380,099 shares of the company’s stock, valued at $28,298,370.55. The sale was disclosed in a filing with the SEC, which can be accessed through 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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