Welch & Forbes LLC lowered its position in Bristol-Myers Squibb Co (NYSE:BMY) by 17.9% in the first quarter, HoldingsChannel.com reports. The firm owned 176,668 shares of the biopharmaceutical company’s stock after selling 38,632 shares during the period. Welch & Forbes LLC’s holdings in Bristol-Myers Squibb were worth $8,429,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in BMY. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $797,038,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Bristol-Myers Squibb by 2,326.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,230,504 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,850,072 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in shares of Bristol-Myers Squibb by 6,090.3% in the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 4,130,436 shares of the biopharmaceutical company’s stock valued at $214,700,000 after purchasing an additional 4,063,712 shares during the period. Prudential Financial Inc. grew its holdings in shares of Bristol-Myers Squibb by 90.9% in the fourth quarter. Prudential Financial Inc. now owns 4,967,474 shares of the biopharmaceutical company’s stock valued at $257,891,000 after purchasing an additional 2,365,961 shares during the period. Finally, Ronna Sue Cohen grew its holdings in shares of Bristol-Myers Squibb by 4,702.2% in the first quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock valued at $1,518,000 after purchasing an additional 1,486,612 shares during the period. 76.62% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the stock. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective for the company. in a report on Monday, May 20th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, May 7th. ValuEngine raised shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. JPMorgan Chase & Co. initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, May 3rd. They set an “overweight” rating and a $62.00 target price for the company. Finally, Barclays raised shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $53.00 to $55.00 in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.88.
In other news, insider Karen Murphy Santiago sold 3,065 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at $145,818.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II purchased 5,000 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, May 16th. The shares were acquired at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the transaction, the director now directly owns 27,000 shares of the company’s stock, valued at approximately $1,276,830. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.
BMY stock traded down $0.49 during mid-day trading on Friday, hitting $46.81. 9,468,896 shares of the company were exchanged, compared to its average volume of 14,260,501. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.79. The firm has a market cap of $76.57 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. Bristol-Myers Squibb Co has a 12-month low of $44.30 and a 12-month high of $63.69.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. Bristol-Myers Squibb’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb Co will post 4.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.
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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