Farr Miller & Washington LLC DC boosted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 7.3% during the 2nd quarter, Holdings Channel reports. The firm owned 50,885 shares of the biopharmaceutical company’s stock after buying an additional 3,465 shares during the period. Farr Miller & Washington LLC DC’s holdings in Bristol-Myers Squibb were worth $2,992,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BMY. Swiss National Bank increased its stake in Bristol-Myers Squibb by 22.9% in the 1st quarter. Swiss National Bank now owns 9,213,588 shares of the biopharmaceutical company’s stock worth $513,565,000 after acquiring an additional 1,718,900 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Bristol-Myers Squibb by 12.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,790,913 shares of the biopharmaceutical company’s stock worth $651,830,000 after acquiring an additional 1,263,572 shares during the last quarter. First Trust Advisors LP increased its stake in Bristol-Myers Squibb by 37.3% in the 1st quarter. First Trust Advisors LP now owns 3,402,759 shares of the biopharmaceutical company’s stock worth $189,670,000 after acquiring an additional 923,686 shares during the last quarter. Unigestion Holding SA increased its stake in Bristol-Myers Squibb by 1,714.8% in the 2nd quarter. Unigestion Holding SA now owns 962,504 shares of the biopharmaceutical company’s stock worth $56,566,000 after acquiring an additional 909,467 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $50,654,000. 74.20% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. William Blair reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, June 1st. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday. Cfra reiterated a “buy” rating and issued a $70.00 target price on shares of Bristol-Myers Squibb in a report on Sunday, July 26th. Bank of America reiterated a “buy” rating and issued a $80.00 target price on shares of Bristol-Myers Squibb in a report on Friday, May 15th. Finally, Raymond James assumed coverage on Bristol-Myers Squibb in a report on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $69.07.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.15. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.04 billion. During the same period in the prior year, the business earned $1.18 EPS. The business’s revenue for the quarter was up 61.5% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb Co will post 6.24 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Monday, July 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol-Myers Squibb’s payout ratio is 38.38%.
In other news, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total value of $1,567,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at approximately $1,678,382.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dinesh C. Paliwal purchased 9,174 shares of Bristol-Myers Squibb stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $54.50 per share, with a total value of $499,983.00. Following the completion of the transaction, the director now owns 22,109 shares in the company, valued at approximately $1,204,940.50. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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