Profit Investment Management LLC acquired a new position in Bristol-Myers Squibb Co (NYSE:BMY) in the 4th quarter, HoldingsChannel reports. The fund acquired 10,070 shares of the biopharmaceutical company’s stock, valued at approximately $646,000.
Several other large investors have also made changes to their positions in the business. Puzo Michael J increased its stake in Bristol-Myers Squibb by 7.8% in the fourth quarter. Puzo Michael J now owns 11,381 shares of the biopharmaceutical company’s stock worth $732,000 after purchasing an additional 821 shares during the period. Somerville Kurt F boosted its stake in shares of Bristol-Myers Squibb by 23.6% during the fourth quarter. Somerville Kurt F now owns 10,445 shares of the biopharmaceutical company’s stock valued at $670,000 after purchasing an additional 1,995 shares during the period. Viking Fund Management LLC grew its holdings in shares of Bristol-Myers Squibb by 40.6% in the fourth quarter. Viking Fund Management LLC now owns 45,000 shares of the biopharmaceutical company’s stock worth $2,889,000 after purchasing an additional 13,000 shares during the last quarter. Cardinal Capital Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 5.7% in the fourth quarter. Cardinal Capital Management Inc. now owns 13,850 shares of the biopharmaceutical company’s stock worth $889,000 after purchasing an additional 750 shares during the last quarter. Finally, FormulaFolio Investments LLC grew its holdings in shares of Bristol-Myers Squibb by 22.4% in the fourth quarter. FormulaFolio Investments LLC now owns 8,773 shares of the biopharmaceutical company’s stock worth $563,000 after purchasing an additional 1,605 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
In other news, insider Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the sale, the insider now directly owns 31,963 shares in the company, valued at approximately $1,807,827.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John E. Elicker sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the sale, the senior vice president now owns 74,471 shares in the company, valued at $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.11. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. Equities analysts expect that Bristol-Myers Squibb Co will post 4.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.70%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.41. Bristol-Myers Squibb’s dividend payout ratio is currently 45.23%.
BMY has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Mizuho initiated coverage on shares of Bristol-Myers Squibb in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Wolfe Research set a $66.00 target price on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, November 1st. Gabelli started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, November 27th. They set a “buy” rating for the company. Finally, Bank of America assumed coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, October 16th. They set a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Buy” and a consensus price target of $61.69.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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