Isthmus Partners LLC reduced its stake in Bristol-Myers Squibb Co. (NYSE:BMY) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,705 shares of the biopharmaceutical company’s stock after selling 200 shares during the period. Isthmus Partners LLC’s holdings in Bristol-Myers Squibb were worth $273,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Jolley Asset Management LLC increased its stake 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. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC increased its stake 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 during the period. Jackson Grant Investment Advisers Inc. increased its stake 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 during the period. Finally, Madrona Financial Services LLC purchased a new stake in Bristol-Myers Squibb during the second quarter worth $200,000. 72.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.53% during trading on Friday, reaching $56.72. The company’s stock had a trading volume of 6,002,454 shares. Bristol-Myers Squibb Co. has a 52-week low of $55.02 and a 52-week high of $77.12. The firm’s 50-day moving average is $58.51 and its 200 day moving average is $67.50. The company has a market cap of $94.77 billion, a PE ratio of 33.17 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Bristol-Myers Squibb’s revenue was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
A number of equities research analysts have recently weighed in on BMY shares. Credit Suisse Group AG downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $86.00 to $63.00 in a research note on Sunday, August 7th. Morgan Stanley reissued a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Jefferies Group reissued a “hold” rating and issued a $57.00 price objective (down from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price objective on the stock in a research note on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. 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 given a strong buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $69.64.
In related news, Director Lamberto Andreotti sold 21,600 shares of the 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 completion of 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 available through this link. 0.24% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co. (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Co. and related companies with MarketBeat.com's FREE daily email newsletter.