Bank OZK lowered its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 37.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,428 shares of the biopharmaceutical company’s stock after selling 20,388 shares during the period. Bristol-Myers Squibb accounts for 1.3% of Bank OZK’s holdings, making the stock its 24th biggest position. Bank OZK’s holdings in Bristol-Myers Squibb were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in BMY. New Millennium Group LLC acquired a new stake in Bristol-Myers Squibb in the 2nd quarter worth about $31,000. Clear Investment Research LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth about $36,000. Western Pacific Wealth Management LP boosted its position in shares of Bristol-Myers Squibb by 878.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 492 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at about $41,000. Finally, Heritage Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $44,000. 75.51% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Bristol-Myers Squibb
In other news, CEO Giovanni Caforio sold 240,000 shares of Bristol-Myers Squibb stock in a transaction on Monday, February 6th. The stock was sold at an average price of $74.65, for a total value of $17,916,000.00. Following the transaction, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the sale, the chief executive officer now directly owns 236,104 shares of the company’s stock, valued at approximately $17,625,163.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Powell sold 11,183 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the completion of the sale, the executive vice president now owns 23,043 shares of the company’s stock, valued at approximately $1,721,081.67. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Price Performance
Shares of Bristol-Myers Squibb stock traded down $0.57 during midday trading on Tuesday, reaching $69.42. The company had a trading volume of 1,161,657 shares, compared to its average volume of 8,016,115. The company has a current ratio of 1.25, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. Bristol-Myers Squibb has a 1-year low of $65.95 and a 1-year high of $81.43. The company has a market capitalization of $145.70 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. The stock has a fifty day simple moving average of $72.35 and a 200 day simple moving average of $73.41.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $11.20 billion. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. Bristol-Myers Squibb’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 8.07 earnings per share for the current year.
Bristol-Myers Squibb Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, January 5th. Bristol-Myers Squibb’s payout ratio is presently 77.29%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on BMY shares. Cantor Fitzgerald initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, January 17th. They set an “overweight” rating and a $95.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Credit Suisse Group began coverage on Bristol-Myers Squibb in a research note on Thursday, November 17th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Atlantic Securities increased their price objective on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.
Bristol-Myers Squibb Company Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.