Davidson & Garrard Inc. reduced its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 5.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,483 shares of the biopharmaceutical company’s stock after selling 2,757 shares during the period. Davidson & Garrard Inc.’s holdings in Bristol-Myers Squibb were worth $2,701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Bbva Compass Bancshares Inc. grew its position in Bristol-Myers Squibb by 1.5% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 47,772 shares of the biopharmaceutical company’s stock worth $2,598,000 after purchasing an additional 711 shares during the period. DekaBank Deutsche Girozentrale grew its position in Bristol-Myers Squibb by 6.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 855,037 shares of the biopharmaceutical company’s stock worth $47,492,000 after purchasing an additional 53,474 shares during the period. Grisanti Capital Management LLC grew its position in shares of Bristol-Myers Squibb by 89.2% during the 1st quarter. Grisanti Capital Management LLC now owns 3,690 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 1,740 shares during the period. Community Bank N.A. grew its position in shares of Bristol-Myers Squibb by 13.8% during the 1st quarter. Community Bank N.A. now owns 34,930 shares of the biopharmaceutical company’s stock valued at $1,900,000 after acquiring an additional 4,240 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Bristol-Myers Squibb by 1.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 64,999 shares of the biopharmaceutical company’s stock valued at $3,535,000 after acquiring an additional 910 shares during the period. 69.51% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Company (BMY) opened at $61.25 on Wednesday. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $66.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. The firm has a market cap of $99,822.34, a P/E ratio of 20.60, a P/E/G ratio of 2.40 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the business posted $0.77 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts expect that Bristol-Myers Squibb Company will post 2.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were issued a $0.39 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 61.42%.
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In related news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the company. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price on the stock. in a research report on Tuesday, August 22nd. Citigroup Inc. set a $72.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Wednesday, October 25th. BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Credit Suisse Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday, August 16th. Finally, Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $64.93.
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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