Edgestream Partners L.P. Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Edgestream Partners L.P. lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 118.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,991 shares of the biopharmaceutical company’s stock after acquiring an additional 12,466 shares during the quarter. Edgestream Partners L.P.’s holdings in Bristol-Myers Squibb were worth $1,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Spectrum Management Group LLC increased its position in shares of Bristol-Myers Squibb by 113.1% during the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 181 shares during the last quarter. Schubert & Co increased its position in Bristol-Myers Squibb by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 181 shares during the last quarter. Castle Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the second quarter worth $26,000. LFA Lugano Financial Advisors SA purchased a new stake in Bristol-Myers Squibb in the second quarter worth $30,000. Finally, Kessler Investment Group LLC purchased a new stake in Bristol-Myers Squibb in the second quarter worth $31,000. 76.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group raised their target price on Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Credit Suisse Group assumed coverage on Bristol-Myers Squibb in a research report on Thursday, November 17th. They issued a “neutral” rating and a $78.00 target price for the company. Berenberg Bank downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their target price for the stock from $82.00 to $76.00 in a research report on Wednesday, September 14th. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, September 12th. Finally, StockNews.com assumed coverage on Bristol-Myers Squibb in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $79.14 on Thursday. The firm has a market capitalization of $168.26 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.86 and a beta of 0.40. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $81.17. The stock has a fifty day moving average of $73.53 and a 200 day moving average of $74.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.42.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.16. The company had revenue of $11.22 billion during the quarter, compared to analyst estimates of $11.18 billion. Bristol-Myers Squibb had a return on equity of 50.30% and a net margin of 14.29%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 70.36%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the completion of the sale, the executive vice president now owns 50,476 shares of the company’s stock, valued at $3,571,177. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the completion of the sale, the executive vice president now owns 50,476 shares of the company’s stock, valued at $3,571,177. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David V. Elkins sold 133,951 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $71.30, for a total value of $9,550,706.30. Following the completion of the transaction, the chief financial officer now owns 100,460 shares in the company, valued at approximately $7,162,798. The disclosure for this sale can be found here. Insiders sold a total of 296,111 shares of company stock valued at $21,582,900 over the last 90 days. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; 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; and Orencia for adult patients with active RA and psoriatic arthritis.

See Also

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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