Essex Financial Services Inc. cut its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 26.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,586 shares of the biopharmaceutical company’s stock after selling 14,201 shares during the period. Essex Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $2,458,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Bristol-Myers Squibb by 7.2% in the second quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock valued at $6,193,296,000 after acquiring an additional 7,517,623 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bristol-Myers Squibb by 44.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,460,148 shares of the biopharmaceutical company’s stock worth $587,287,000 after purchasing an additional 2,903,920 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Bristol-Myers Squibb by 114.5% during the second quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock worth $383,119,000 after purchasing an additional 3,695,485 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Bristol-Myers Squibb by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 6,283,205 shares of the biopharmaceutical company’s stock worth $347,713,000 after purchasing an additional 172,417 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Bristol-Myers Squibb by 13.9% during the third quarter. Bank of Montreal Can now owns 5,862,162 shares of the biopharmaceutical company’s stock worth $363,924,000 after purchasing an additional 717,503 shares in the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.
A number of research analysts have commented on the company. Jefferies Financial Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Sunday, July 15th. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Atlantic Securities upgraded Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target on the stock in a research note on Wednesday, August 8th. Barclays upped their price target on Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Finally, Credit Suisse Group restated a “hold” rating and set a $61.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.48.
Shares of NYSE BMY opened at $53.39 on Friday. The firm has a market capitalization of $86.49 billion, a PE ratio of 17.74, a P/E/G ratio of 1.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.53. Bristol-Myers Squibb Co has a 12-month low of $46.94 and a 12-month high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.18. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. As a group, analysts anticipate that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is currently 53.16%.
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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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