Bristol-Myers Squibb Co (NYSE:BMY) Shares Sold by Essex Savings Bank

Share on StockTwits

Essex Savings Bank reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,668 shares of the biopharmaceutical company’s stock after selling 213 shares during the quarter. Essex Savings Bank’s holdings in Bristol-Myers Squibb were worth $1,039,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in Bristol-Myers Squibb by 1.5% during the 1st quarter. Legal & General Group Plc now owns 15,448,871 shares of the biopharmaceutical company’s stock worth $861,533,000 after acquiring an additional 234,035 shares in the last quarter. Capital World Investors raised its stake in Bristol-Myers Squibb by 4.7% during the 1st quarter. Capital World Investors now owns 13,307,482 shares of the biopharmaceutical company’s stock worth $741,759,000 after acquiring an additional 601,947 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Bristol-Myers Squibb by 12.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,790,913 shares of the biopharmaceutical company’s stock worth $651,830,000 after acquiring an additional 1,263,572 shares in the last quarter. Swiss National Bank raised its stake in Bristol-Myers Squibb by 22.9% during the 1st quarter. Swiss National Bank now owns 9,213,588 shares of the biopharmaceutical company’s stock worth $513,565,000 after acquiring an additional 1,718,900 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Bristol-Myers Squibb by 1.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,281,866 shares of the biopharmaceutical company’s stock worth $350,151,000 after acquiring an additional 69,345 shares in the last quarter. Hedge funds and other institutional investors own 74.20% of the company’s stock.

Several equities research analysts recently commented on BMY shares. Bank of America reiterated a “buy” rating and set a $80.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, May 15th. William Blair reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Monday, June 1st. Cfra reissued a “buy” rating and set a $70.00 price objective on shares of Bristol-Myers Squibb in a research report on Sunday, July 26th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, TheStreet downgraded shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Buy” and a consensus target price of $68.93.

In related news, SVP Adam Dubow sold 3,200 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.01, for a total transaction of $195,232.00. Following the sale, the senior vice president now owns 16,086 shares of the company’s stock, valued at $981,406.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the sale, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Shares of NYSE:BMY traded down $0.21 during midday trading on Friday, hitting $58.66. The stock had a trading volume of 10,439,919 shares, compared to its average volume of 9,155,796. The company has a market capitalization of $132.73 billion, a PE ratio of 72.42, a P/E/G ratio of 1.12 and a beta of 0.73. The stock has a 50 day moving average price of $58.18 and a two-hundred day moving average price of $60.16. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. Bristol-Myers Squibb Co has a 1 year low of $44.00 and a 1 year high of $68.34.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.23. The business had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.04 billion. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The business’s quarterly revenue was up 82.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, equities analysts expect that Bristol-Myers Squibb Co will post 6.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, July 2nd. Bristol-Myers Squibb’s dividend payout ratio is currently 38.38%.

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.

See Also: How to Invest in Growth Stocks

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.