Trust Co. of Toledo NA OH reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,901 shares of the biopharmaceutical company’s stock after selling 1,766 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Bristol-Myers Squibb were worth $2,519,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Pacer Advisors Inc. raised its holdings in Bristol-Myers Squibb by 2.5% during the 1st quarter. Pacer Advisors Inc. now owns 266,119 shares of the biopharmaceutical company’s stock worth $16,800,000 after buying an additional 6,496 shares during the period. Jacobs & Co. CA grew its stake in Bristol-Myers Squibb by 3.0% in the first quarter. Jacobs & Co. CA now owns 111,841 shares of the biopharmaceutical company’s stock valued at $7,060,000 after purchasing an additional 3,271 shares in the last quarter. Private Asset Management Inc. grew its stake in Bristol-Myers Squibb by 0.4% in the first quarter. Private Asset Management Inc. now owns 163,189 shares of the biopharmaceutical company’s stock valued at $10,302,000 after purchasing an additional 706 shares in the last quarter. SWS Partners lifted its position in shares of Bristol-Myers Squibb by 6.9% in the fourth quarter. SWS Partners now owns 27,840 shares of the biopharmaceutical company’s stock worth $1,727,000 after buying an additional 1,799 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $692,000. Institutional investors and hedge funds own 72.41% of the company’s stock.
In related news, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $62.20, for a total transaction of $1,555,000.00. Following the completion of the transaction, the chief executive officer now owns 528,980 shares in the company, valued at $32,902,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.04. The firm had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.74 billion. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The company’s revenue was up 39.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 6.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Thursday, April 1st will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, March 31st. Bristol-Myers Squibb’s payout ratio is 41.79%.
Several equities research analysts have recently weighed in on the company. TheStreet lowered Bristol-Myers Squibb from a “b” rating to a “c” rating in a research note on Monday, March 8th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group raised Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $74.07.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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