Modera Wealth Management LLC boosted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 31.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,138 shares of the biopharmaceutical company’s stock after purchasing an additional 1,700 shares during the quarter. Modera Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $324,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Bristol-Myers Squibb by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $208,561,000 after purchasing an additional 35,653 shares in the last quarter. Randolph Co Inc purchased a new position in Bristol-Myers Squibb during the first quarter worth about $5,314,000. Lavaca Capital LLC raised its holdings in Bristol-Myers Squibb by 75.8% during the first quarter. Lavaca Capital LLC now owns 4,294 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 1,852 shares in the last quarter. NuWave Investment Management LLC raised its holdings in Bristol-Myers Squibb by 138.5% during the first quarter. NuWave Investment Management LLC now owns 5,790 shares of the biopharmaceutical company’s stock worth $276,000 after purchasing an additional 3,362 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 24.9% during the first quarter. Capital Investment Advisors LLC now owns 68,414 shares of the biopharmaceutical company’s stock worth $3,264,000 after purchasing an additional 13,635 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.
BMY has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, May 7th. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Barclays raised Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $53.00 to $55.00 in a report on Friday, May 3rd. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a report on Wednesday, August 14th. Finally, Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price for the company. One 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. The company currently has an average rating of “Hold” and a consensus target price of $55.88.
NYSE:BMY traded down $1.28 during trading on Friday, reaching $46.58. The company’s stock had a trading volume of 13,584,015 shares, compared to its average volume of 12,409,711. The firm has a market cap of $78.29 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The firm has a 50 day moving average of $45.53 and a 200-day moving average of $47.40. Bristol-Myers Squibb Co has a 12 month low of $42.48 and a 12 month 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 business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Equities research analysts forecast that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.52%. Bristol-Myers Squibb’s payout ratio is currently 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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