Davis R M Inc. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,883 shares of the biopharmaceutical company’s stock after purchasing an additional 1,289 shares during the quarter. Davis R M Inc.’s holdings in Bristol-Myers Squibb were worth $760,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Dakota Wealth Management bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth $332,000. Covestor Ltd increased its stake in shares of Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC bought a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp grew its holdings in Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares during the period. Institutional investors own 74.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on BMY shares. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Bristol-Myers Squibb in a report on Thursday, November 9th. They issued a “hold” rating and a $55.00 price target for the company. Daiwa Capital Markets lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $54.00 in a research note on Thursday, November 2nd. The Goldman Sachs Group reduced their price objective on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Finally, Morgan Stanley decreased their target price on shares of Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.59.
Insider Buying and Selling
In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.
Bristol-Myers Squibb Trading Down 3.8 %
Shares of BMY stock opened at $48.90 on Tuesday. The stock has a 50 day simple moving average of $55.36 and a 200 day simple moving average of $60.73. Bristol-Myers Squibb has a 1 year low of $48.42 and a 1 year high of $81.43. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The stock has a market cap of $99.50 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.62 and a beta of 0.38.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.24. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. Bristol-Myers Squibb’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 annualized dividend and a dividend yield of 4.66%. Bristol-Myers Squibb’s payout ratio is 57.87%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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