M&R Capital Management Inc. boosted its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,017 shares of the biopharmaceutical company’s stock after buying an additional 75 shares during the period. M&R Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,134,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Williams Jones & Associates LLC increased its position in shares of Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock worth $25,315,000 after buying an additional 6,125 shares during the period. Dynamic Advisors Solutions LLC increased its position in shares of Bristol-Myers Squibb by 1.9% in the first quarter. Dynamic Advisors Solutions LLC now owns 9,195 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 169 shares during the period. BTC Capital Management Inc. acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $215,000. Virginia Retirement System acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $36,262,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $2,344,000. 72.88% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Co. (NYSE:BMY) opened at 49.77 on Friday. Bristol-Myers Squibb Co. has a 52-week low of $49.12 and a 52-week high of $77.12. The stock has a market capitalization of $83.16 billion, a price-to-earnings ratio of 29.11 and a beta of 0.74. The firm has a 50-day moving average price of $55.09 and a 200 day moving average price of $66.31.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. 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 business posted $0.53 earnings per share. On average, equities research analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 3.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.
A number of equities analysts have recently issued reports on the company. Leerink Swann reissued an “outperform” rating and set a $69.00 target price on shares of Bristol-Myers Squibb in a research note on Sunday, October 9th. Morgan Stanley downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research note on Friday, August 5th. Jefferies Group reissued a “hold” rating and set a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Finally, Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Two equities research 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 company. The company presently has a consensus rating of “Hold” and an average target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of Bristol-Myers Squibb stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the transaction, the director now directly owns 334,499 shares in the company, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently 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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