Stonebridge Capital Management Inc. lifted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 223.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,082 shares of the biopharmaceutical company’s stock after buying an additional 13,190 shares during the period. Stonebridge Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $910,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $26,000. Capital Financial Planning LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Well Done LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $30,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $32,000. Finally, Riverview Trust Co acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $33,000. 77.54% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on BMY. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, April 23rd. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. Argus lowered 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. UBS Group dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Finally, BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.34.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The business’s revenue was up 14.0% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb Co will post 4.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 41.21%.
In other Bristol-Myers Squibb news, insider Karen Murphy Santiago sold 3,065 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the completion of the sale, the insider now owns 3,066 shares in the company, valued at approximately $145,818.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore R. Samuels II bought 5,000 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, May 16th. The stock was acquired at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the purchase, the director now directly owns 27,000 shares in the company, valued at approximately $1,276,830. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.
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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