Tradition Capital Management LLC increased its position in Bristol-Myers Squibb Co (NYSE:BMY) by 89.7% in the third quarter, HoldingsChannel.com reports. The firm owned 89,856 shares of the biopharmaceutical company’s stock after acquiring an additional 42,495 shares during the period. Bristol-Myers Squibb comprises approximately 1.9% of Tradition Capital Management LLC’s portfolio, making the stock its 14th largest holding. Tradition Capital Management LLC owned approximately 54.90% of Bristol-Myers Squibb worth $5,727,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Tradewinds Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 34.6% during the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 500 shares during the last quarter. Atlantic Trust LLC bought a new position in Bristol-Myers Squibb during the second quarter worth about $111,000. American National Bank boosted its holdings in Bristol-Myers Squibb by 11.7% during the second quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 225 shares during the last quarter. Blue Chip Partners Inc. boosted its holdings in Bristol-Myers Squibb by 0.7% during the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 15 shares during the last quarter. Finally, BDO Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the second quarter worth about $123,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.
A number of brokerages have issued reports on BMY. Zacks Investment Research cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Tuesday. Vetr cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $59.70 price objective on the stock. in a report on Thursday, December 28th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the company a “sell” rating in a report on Monday, December 11th. Citigroup set a $72.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a report on Tuesday, December 5th. Finally, SunTrust Banks upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $65.05.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. analysts forecast that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.40 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. This represents a $1.60 annualized dividend and a yield of 2.59%. Bristol-Myers Squibb’s payout ratio is presently 62.99%.
In other news, Director Theodore R. Samuels II bought 4,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the purchase, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the sale, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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