State Board of Administration of Florida Retirement System lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,197,764 shares of the biopharmaceutical company’s stock after selling 21,490 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Bristol-Myers Squibb worth $99,669,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Financial Gravity Wealth Inc. bought a new stake in shares of Bristol-Myers Squibb in the first quarter worth about $26,000. Private Ocean LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $28,000. James Investment Research Inc. lifted its holdings in shares of Bristol-Myers Squibb by 36.5% during the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 219 shares during the last quarter. Endurance Wealth Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 47.4% during the first quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.
A number of research firms have commented on BMY. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, May 7th. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price target on the stock. Finally, Argus cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.88.
Shares of NYSE BMY traded up $0.18 during mid-day trading on Tuesday, hitting $47.64. 2,327,332 shares of the company’s stock traded hands, compared to its average volume of 14,823,283. The company’s 50-day moving average is $45.44 and its two-hundred day moving average is $47.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The company has a market capitalization of $76.85 billion, a P/E ratio of 11.97, a PEG ratio of 2.33 and a beta of 0.73. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $63.69.
Bristol-Myers Squibb (NYSE:BMY) last announced its 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. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. Equities analysts anticipate that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.
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.
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