Truvestments Capital LLC Invests $282,000 in Bristol-Myers Squibb Co (BMY)

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Truvestments Capital LLC bought a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,094 shares of the biopharmaceutical company’s stock, valued at approximately $282,000.

Several other institutional investors also recently modified their holdings of the company. Signature Financial Management Inc. raised its position in Bristol-Myers Squibb by 1.9% during the 2nd quarter. Signature Financial Management Inc. now owns 46,006 shares of the biopharmaceutical company’s stock worth $2,546,000 after buying an additional 870 shares during the last quarter. DnB Asset Management AS grew its stake in shares of Bristol-Myers Squibb by 0.3% during the 2nd quarter. DnB Asset Management AS now owns 321,762 shares of the biopharmaceutical company’s stock worth $17,806,000 after purchasing an additional 900 shares during the period. Mcmillion Capital Management Inc. grew its stake in shares of Bristol-Myers Squibb by 1.4% during the 2nd quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after purchasing an additional 903 shares during the period. Securian Asset Management Inc grew its stake in shares of Bristol-Myers Squibb by 0.5% during the 2nd quarter. Securian Asset Management Inc now owns 167,108 shares of the biopharmaceutical company’s stock worth $9,248,000 after purchasing an additional 912 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Bristol-Myers Squibb by 4.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 19,840 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 926 shares during the period. Institutional investors and hedge funds own 72.28% of the company’s stock.

NYSE BMY traded up $0.01 during mid-day trading on Friday, hitting $57.51. The company’s stock had a trading volume of 10,484,764 shares, compared to its average volume of 7,383,813. The firm has a market capitalization of $101.47 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.70 and a beta of 0.98. Bristol-Myers Squibb Co has a 52-week low of $49.96 and a 52-week high of $70.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 1.40.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb Co will post 3.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is currently 53.16%.

BMY has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 price target on shares of Bristol-Myers Squibb in a research note on Thursday, June 21st. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Jefferies Financial Group set a $58.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Sunday, July 15th. Credit Suisse Group increased their price objective on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $67.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $63.13.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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