Baxter Bros Inc. trimmed its position in Bristol-Myers Squibb Co (NYSE:BMY) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 16,956 shares of the biopharmaceutical company’s stock after selling 1,066 shares during the period. Baxter Bros Inc.’s holdings in Bristol-Myers Squibb were worth $809,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BMY. Legal & General Group Plc boosted its position in shares of Bristol-Myers Squibb by 5.9% in the 4th quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock worth $445,300,000 after purchasing an additional 474,820 shares during the last quarter. Chescapmanager LLC boosted its position in shares of Bristol-Myers Squibb by 22.1% in the 4th quarter. Chescapmanager LLC now owns 361,755 shares of the biopharmaceutical company’s stock worth $18,804,000 after purchasing an additional 65,367 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $73,000. CSat Investment Advisory L.P. boosted its position in shares of Bristol-Myers Squibb by 13.6% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,135 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 255 shares during the last quarter. Finally, Trust Co. of Virginia VA boosted its position in shares of Bristol-Myers Squibb by 105.7% in the 4th quarter. Trust Co. of Virginia VA now owns 50,048 shares of the biopharmaceutical company’s stock worth $2,601,000 after purchasing an additional 25,712 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.
Several research firms have recently issued reports on BMY. Zacks Investment Research lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. Bank of America reduced their price target on Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. began coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.64.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a return on equity of 48.72% and a net margin of 22.23%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts expect that Bristol-Myers Squibb Co will post 4.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently 41.21%.
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Bristol-Myers Squibb Profile
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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