Cypress Asset Management Inc. TX lowered its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,114 shares of the biopharmaceutical company’s stock after selling 7,755 shares during the period. Cypress Asset Management Inc. TX’s holdings in Bristol-Myers Squibb were worth $3,322,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Renaissance Technologies LLC grew its stake in Bristol-Myers Squibb by 108.5% during the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the period. Franklin Resources Inc. grew its stake in Bristol-Myers Squibb by 185.2% during the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the period. Jennison Associates LLC grew its stake in Bristol-Myers Squibb by 16.2% during the third quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after purchasing an additional 3,735,453 shares during the period. Janus Henderson Group PLC grew its stake in Bristol-Myers Squibb by 2,990.5% during the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Bristol-Myers Squibb by 42,071.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the period. 69.74% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now owns 584,373 shares in the company, valued at $37,031,717.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
Shares of Bristol-Myers Squibb Co (BMY) opened at $62.28 on Friday. Bristol-Myers Squibb Co has a one year low of $46.01 and a one year high of $66.10. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $101,930.00, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. equities research analysts expect that Bristol-Myers Squibb Co will post 2.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.99%.
BMY has been the subject of several recent analyst reports. SunTrust Banks raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, November 1st. Vetr cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $59.70 price objective for the company. in a research note on Thursday, December 28th. Barclays raised their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $65.11.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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