Coastline Trust Co boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,215 shares of the biopharmaceutical company’s stock after purchasing an additional 2,355 shares during the period. Coastline Trust Co’s holdings in Bristol-Myers Squibb were worth $1,882,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of BMY. Nordea Investment Management AB grew its position in shares of Bristol-Myers Squibb by 97.0% during the 2nd quarter. Nordea Investment Management AB now owns 19,622,338 shares of the biopharmaceutical company’s stock valued at $1,131,816,000 after acquiring an additional 9,660,989 shares during the period. Vanguard Group Inc. grew its position in shares of Bristol-Myers Squibb by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 203,888,386 shares of the biopharmaceutical company’s stock valued at $11,988,638,000 after acquiring an additional 4,984,471 shares during the period. GQG Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $220,922,000. Two Sigma Advisers LP grew its position in shares of Bristol-Myers Squibb by 219.2% during the 2nd quarter. Two Sigma Advisers LP now owns 3,767,731 shares of the biopharmaceutical company’s stock valued at $221,543,000 after acquiring an additional 2,587,299 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Bristol-Myers Squibb by 1,698.8% during the 2nd quarter. Federated Hermes Inc. now owns 2,539,713 shares of the biopharmaceutical company’s stock valued at $149,336,000 after acquiring an additional 2,398,525 shares during the period. Hedge funds and other institutional investors own 72.61% of the company’s stock.
A number of research analysts recently weighed in on BMY shares. Seaport Global Securities started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price target on the stock. Cfra reaffirmed a “buy” rating and issued a $70.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Bristol-Myers Squibb from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 25th. Finally, Morgan Stanley raised their price target on shares of Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.00.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.15. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.04 billion. Bristol-Myers Squibb had a negative net margin of 1.61% and a positive return on equity of 28.47%. The business’s revenue was up 61.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.94%. Bristol-Myers Squibb’s dividend payout ratio is currently 38.38%.
In other news, EVP Sandra Leung sold 141,420 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $63.24, for a total transaction of $8,943,400.80. Following the completion of the sale, the executive vice president now owns 432,744 shares in the company, valued at approximately $27,366,730.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Giovanni Caforio sold 39,840 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $62.70, for a total transaction of $2,497,968.00. Following the sale, the chief executive officer now owns 445,584 shares of the company’s stock, valued at approximately $27,938,116.80. The disclosure for this sale can be found here. Insiders have sold a total of 186,587 shares of company stock valued at $11,782,297 in the last 90 days. Insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. 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 active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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