Washington Capital Management Inc. boosted its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,020 shares of the biopharmaceutical company’s stock after acquiring an additional 830 shares during the quarter. Bristol-Myers Squibb accounts for approximately 2.1% of Washington Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Washington Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,815,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $26,000. Private Ocean LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $28,000. James Investment Research Inc. raised its position in shares of Bristol-Myers Squibb by 36.5% in the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 219 shares during the period. Endurance Wealth Management Inc. raised its position in shares of Bristol-Myers Squibb by 119.6% in the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the period. Finally, SeaBridge Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 47.4% in the first quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 300 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on BMY. Goldman Sachs Group began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price target on the stock. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research note on Wednesday, August 14th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. Finally, Argus downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.88.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. On average, analysts expect that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.52%. Bristol-Myers Squibb’s payout ratio is 41.21%.
In other news, Director Robert J. Bertolini acquired 11,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
About Bristol-Myers Squibb
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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