Flaharty Asset Management LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 3,873 shares of the biopharmaceutical company’s stock, valued at approximately $248,000.
Other institutional investors have also made changes to their positions in the company. Northwest Capital Management Inc bought a new position in Bristol-Myers Squibb during the 2nd quarter worth $26,000. True Wealth Design LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. bought a new position in Bristol-Myers Squibb during the 4th quarter worth $31,000. Live Oak Investment Partners bought a new position in Bristol-Myers Squibb during the 4th quarter worth $33,000. Finally, Avalon Trust Co bought a new position in Bristol-Myers Squibb during the 1st quarter worth $36,000. 74.98% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BMY. BMO Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research report on Friday, October 27th. TheStreet lowered Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Thursday, November 9th. William Blair lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. The Goldman Sachs Group reduced their price target 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, Bank of America reduced their price target on Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.59.
Insider Activity at Bristol-Myers Squibb
In related news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.
Bristol-Myers Squibb Trading Down 0.0 %
Shares of Bristol-Myers Squibb stock traded down $0.02 on Tuesday, reaching $48.88. 3,675,120 shares of the company were exchanged, compared to its average volume of 9,713,910. The stock has a fifty day moving average price of $55.36 and a 200-day moving average price of $60.73. The firm has a market capitalization of $99.46 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.62 and a beta of 0.38. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. Bristol-Myers Squibb has a fifty-two week low of $48.42 and a fifty-two week high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.24. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $1.99 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post 7.56 EPS for the current year.
Bristol-Myers Squibb Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 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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