Cannell Peter B & Co. Inc. Sells 2,885 Shares of Bristol-Myers Squibb Co (BMY)

Cannell Peter B & Co. Inc. cut its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,134 shares of the biopharmaceutical company’s stock after selling 2,885 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Bristol-Myers Squibb were worth $1,280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mcmillion Capital Management Inc. boosted its position in shares of Bristol-Myers Squibb by 1.4% in the second quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after acquiring an additional 903 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Bristol-Myers Squibb by 12.5% in the second quarter. Brighton Jones LLC now owns 12,878 shares of the biopharmaceutical company’s stock worth $713,000 after acquiring an additional 1,429 shares during the last quarter. Hyman Charles D boosted its position in shares of Bristol-Myers Squibb by 0.8% in the second quarter. Hyman Charles D now owns 186,441 shares of the biopharmaceutical company’s stock worth $10,318,000 after acquiring an additional 1,545 shares during the last quarter. HMS Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $213,000. Finally, FineMark National Bank & Trust boosted its position in shares of Bristol-Myers Squibb by 2.6% in the second quarter. FineMark National Bank & Trust now owns 128,182 shares of the biopharmaceutical company’s stock worth $7,094,000 after acquiring an additional 3,247 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Shares of BMY stock opened at $61.11 on Friday. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.02. 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 Co has a fifty-two week low of $49.96 and a fifty-two week high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. equities research analysts anticipate that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Friday, July 6th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. Bristol-Myers Squibb’s payout ratio is currently 53.16%.

Several research firms recently issued reports on BMY. Atlantic Securities raised shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 target price on the stock in a research report on Wednesday, August 8th. SunTrust Banks reissued a “buy” rating and issued a $67.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. Credit Suisse Group lifted their price target on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Jefferies Financial Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Sunday, July 15th. Finally, ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $63.11.

About Bristol-Myers Squibb

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

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