MSI Financial Services Inc raised its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 14.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 148,401 shares of the biopharmaceutical company’s stock after buying an additional 18,655 shares during the period. MSI Financial Services Inc’s holdings in Bristol-Myers Squibb were worth $10,915,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Jolley Asset Management LLC boosted its stake in shares of 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 last quarter. Univest Corp of Pennsylvania purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $202,000. Windsor Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $205,000. Verus Financial Partners Inc. purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $218,000. Finally, Grubman Wealth Management purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $225,000. 72.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.47% during mid-day trading on Thursday, reaching $55.05. The company’s stock had a trading volume of 10,955,332 shares. The firm has a market cap of $91.98 billion, a P/E ratio of 32.19 and a beta of 0.74. The firm’s 50-day moving average price is $56.51 and its 200 day moving average price is $66.84. Bristol-Myers Squibb Co. has a 12-month low of $53.56 and a 12-month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb Co. will post $2.62 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.76%. Bristol-Myers Squibb’s dividend payout ratio is presently 87.36%.
BMY has been the topic of several recent research reports. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Wednesday, July 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Citigroup Inc. reduced their price target on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $85.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, July 29th. Two 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 company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $69.91.
In related news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction dated 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 completion of the transaction, the director now owns 380,099 shares in the company, valued at approximately $28,298,370.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is 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.
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