Northpointe Capital LLC Sells 28,958 Shares of Bristol-Myers Squibb Co (NYSE:BMY)

Northpointe Capital LLC reduced its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 65.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,366 shares of the biopharmaceutical company’s stock after selling 28,958 shares during the quarter. Northpointe Capital LLC’s holdings in Bristol-Myers Squibb were worth $697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Gravity Wealth Inc. bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $26,000. Capital Financial Planning LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $28,000. Private Ocean LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $28,000. Trust Department MB Financial Bank N A bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $32,000. Finally, James Investment Research Inc. grew its stake in shares of Bristol-Myers Squibb by 36.5% during the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 219 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

In other Bristol-Myers Squibb news, insider Karen Murphy Santiago sold 3,065 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total transaction of $145,771.40. Following the completion of the sale, the insider now owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore R. Samuels II purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $47.29 per share, with a total value of $236,450.00. Following the acquisition, the director now directly owns 27,000 shares in the company, valued at $1,276,830. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.

Several research firms have recently commented on BMY. JPMorgan Chase & Co. began coverage on Bristol-Myers Squibb in a report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price objective for the company. UBS Group cut their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, June 13th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, May 7th. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective for the company. in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $55.45.

NYSE BMY opened at $45.69 on Wednesday. The firm has a market cap of $75.23 billion, a P/E ratio of 11.48, a PEG ratio of 2.28 and a beta of 0.73. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month high of $63.69. The firm has a 50 day moving average of $45.49.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.

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

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