Gemmer Asset Management LLC lowered its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,657 shares of the biopharmaceutical company’s stock after selling 438 shares during the period. Gemmer Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $236,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Ocean LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $28,000. Lenox Wealth Advisors LLC raised its stake in Bristol-Myers Squibb by 555.7% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 539 shares during the period. Endurance Wealth Management Inc. raised its stake in Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the period. HMS Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter valued at $45,000. Finally, Global Trust Asset Management LLC raised its stake in Bristol-Myers Squibb by 251.1% during the 2nd quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 2,511 shares during the period. 80.17% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on BMY. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Bank of America upped their price target on shares of Bristol-Myers Squibb from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. set a $62.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, September 13th. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research note on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Buy” and an average price target of $55.81.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
NYSE BMY opened at $51.61 on Friday. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $59.28. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $83.15 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72. The firm’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $47.05.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb Co will post 4.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product 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, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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