Benedetti & Gucer Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 29.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,025 shares of the biopharmaceutical company’s stock after purchasing an additional 4,500 shares during the quarter. Benedetti & Gucer Inc.’s holdings in Bristol-Myers Squibb were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Catalyst Financial Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 2.5% in the 1st quarter. Catalyst Financial Partners LLC now owns 6,001 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 145 shares during the period. Keystone Wealth Services LLC grew its position in Bristol-Myers Squibb by 2.0% in the 1st quarter. Keystone Wealth Services LLC now owns 7,468 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 148 shares during the last quarter. Dillon & Associates Inc. grew its position in Bristol-Myers Squibb by 3.9% in the 1st quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 150 shares during the last quarter. Abbrea Capital LLC grew its position in Bristol-Myers Squibb by 1.5% in the 1st quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock valued at $695,000 after buying an additional 150 shares during the last quarter. Finally, Westshore Wealth LLC grew its position in Bristol-Myers Squibb by 4.3% in the 1st quarter. Westshore Wealth LLC now owns 3,658 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Insider Buying and Selling at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were 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 directly owns 27,868 shares in the company, valued at approximately $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Analyst Ratings Changes
BMY has been the topic of a number of analyst reports. HSBC initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a “reduce” rating and a $56.00 price objective on the stock. Credit Suisse Group lowered their price objective on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. SVB Securities started coverage on shares of Bristol-Myers Squibb in a research report on Monday, July 10th. They set a “market perform” rating and a $66.00 target price on the stock. Finally, Atlantic Securities decreased their target price on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.64.
Bristol-Myers Squibb Price Performance
Shares of Bristol-Myers Squibb stock traded down $0.10 on Friday, hitting $58.04. The company’s stock had a trading volume of 10,902,513 shares, compared to its average volume of 11,165,358. The company has a market capitalization of $121.25 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.55 and a beta of 0.42. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $60.82 and a 200-day moving average price of $64.51. Bristol-Myers Squibb has a 52-week low of $57.61 and a 52-week high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. Bristol-Myers Squibb’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.93 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post 7.43 earnings per share for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 3.93%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 60.64%.
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.