Equitable Holdings Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,761 shares of the biopharmaceutical company’s stock after purchasing an additional 402 shares during the quarter. Equitable Holdings Inc.’s holdings in Bristol-Myers Squibb were worth $5,010,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of BMY. MAI Capital Management increased its holdings in Bristol-Myers Squibb by 2.4% during the 3rd quarter. MAI Capital Management now owns 347,665 shares of the biopharmaceutical company’s stock worth $20,961,000 after purchasing an additional 8,240 shares during the period. Perennial Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth $264,000. Cypress Asset Management Inc. TX raised its holdings in shares of Bristol-Myers Squibb by 22.6% in the third quarter. Cypress Asset Management Inc. TX now owns 40,752 shares of the biopharmaceutical company’s stock valued at $2,457,000 after acquiring an additional 7,515 shares in the last quarter. Wells Trecaso Financial Group LLC lifted its stake in Bristol-Myers Squibb by 11.7% in the third quarter. Wells Trecaso Financial Group LLC now owns 51,194 shares of the biopharmaceutical company’s stock worth $3,086,000 after acquiring an additional 5,360 shares during the period. Finally, Landsberg Bennett & Dubbaneh LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth about $201,000. 72.41% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on BMY shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Bristol-Myers Squibb from $73.00 to $77.00 in a report on Monday, November 30th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b” rating in a report on Monday, December 7th. The Goldman Sachs Group raised Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, December 15th. Sanford C. Bernstein reissued a “market perform” rating and issued a $72.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, November 10th. Finally, Societe Generale raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Monday, November 16th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $73.75.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.42 by $0.04. The business had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.74 billion. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The business’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 6.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Monday, January 4th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.21%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, December 31st. Bristol-Myers Squibb’s dividend payout ratio is presently 41.79%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. The company's products include Opdivo 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 for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
Further Reading: Are sell-side analysts objective?
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