Cypress Asset Management Inc. TX lessened its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,550 shares of the biopharmaceutical company’s stock after selling 2,595 shares during the period. Cypress Asset Management Inc. TX’s holdings in Bristol-Myers Squibb were worth $1,586,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $208,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $763,000. Cornerstone Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 29.6% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 462,615 shares of the biopharmaceutical company’s stock valued at $7,211,000 after purchasing an additional 105,635 shares during the period. TRUE Private Wealth Advisors acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $245,000. Finally, Fiduciary Group LLC increased its holdings in shares of Bristol-Myers Squibb by 14.4% in the 3rd quarter. Fiduciary Group LLC now owns 32,969 shares of the biopharmaceutical company’s stock valued at $2,047,000 after purchasing an additional 4,150 shares during the period. Hedge funds and other institutional investors own 72.32% of the company’s stock.
A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Credit Suisse Group upped their target price on Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Barclays upped their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, October 12th. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 target price on shares of Bristol-Myers Squibb in a report on Thursday, June 21st. Finally, Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Friday, October 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $63.13.
Shares of NYSE BMY traded down $1.69 during trading hours on Friday, hitting $54.29. The stock had a trading volume of 1,331,074 shares, compared to its average volume of 6,380,676. The stock has a market cap of $96.27 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.58 and a beta of 0.98. Bristol-Myers Squibb Co has a 52 week low of $49.96 and a 52 week high of $70.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 1.40.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.14. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, analysts predict that Bristol-Myers Squibb Co will post 3.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. Bristol-Myers Squibb’s payout ratio is 53.16%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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