Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 882,664 shares of the biopharmaceutical company’s stock after buying an additional 86,902 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.05% of Bristol-Myers Squibb worth $64,920,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Jolley Asset Management LLC increased 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 valued at $154,000 after buying an additional 80 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $163,000. Solaris Asset Management LLC increased 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 valued at $165,000 after buying an additional 75 shares during the period. Jackson Grant Investment Advisers Inc. increased 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 valued at $173,000 after buying an additional 12 shares during the period. Finally, Madrona Financial Services LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.11% during mid-day trading on Friday, hitting $56.48. 8,569,054 shares of the stock traded hands. The stock has a market cap of $94.37 billion, a price-to-earnings ratio of 33.03 and a beta of 0.61. 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 $57.97 and its 200-day moving average is $67.43.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The firm 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 company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, analysts forecast that Bristol-Myers Squibb Co. will post $2.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.69%. Bristol-Myers Squibb’s payout ratio is 87.36%.
Several equities analysts recently commented on BMY shares. Credit Suisse Group AG downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $86.00 to $63.00 in a research note on Sunday, August 7th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Vetr raised shares of 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 report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $69.64.
In related news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now owns 334,499 shares in the company, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.
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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