Reliant Investment Management LLC boosted its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 834.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,080 shares of the biopharmaceutical company’s stock after purchasing an additional 44,722 shares during the period. Bristol-Myers Squibb comprises about 2.1% of Reliant Investment Management LLC’s investment portfolio, making the stock its 26th biggest position. Reliant Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $2,945,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in BMY. Perennial Advisors LLC bought a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. CVA Family Office LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $28,000. Laidlaw Wealth Management LLC increased its position in Bristol-Myers Squibb by 11,407.0% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 1,900,156 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 1,883,643 shares in the last quarter. JCIC Asset Management Inc. increased its position in Bristol-Myers Squibb by 37.8% in the 2nd quarter. JCIC Asset Management Inc. now owns 620 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 170 shares in the last quarter. Finally, HBC Financial Services PLLC increased its position in Bristol-Myers Squibb by 166.7% in the 2nd quarter. HBC Financial Services PLLC now owns 800 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 500 shares in the last quarter. 72.61% of the stock is owned by hedge funds and other institutional investors.
NYSE BMY traded down $0.17 during trading on Tuesday, reaching $59.53. 8,257,868 shares of the stock traded hands, compared to its average volume of 14,360,183. The company has a quick ratio of 1.36, a current ratio of 1.47 and a debt-to-equity ratio of 0.85. Bristol-Myers Squibb Co has a fifty-two week low of $45.76 and a fifty-two week high of $68.34. The stock’s 50-day moving average price is $60.92 and its 200 day moving average price is $59.16. The firm has a market cap of $135.08 billion, a price-to-earnings ratio of -597.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, October 1st. Bristol-Myers Squibb’s payout ratio is currently 38.38%.
Several equities research analysts have weighed in on BMY shares. Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $68.00 to $88.00 in a research report on Tuesday, June 2nd. Raymond James started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price objective for the company. Cfra restated a “buy” rating and issued a $70.00 price objective on shares of Bristol-Myers Squibb in a research report on Sunday, July 26th. ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Seaport Global Securities began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.08.
In other news, EVP Sandra Leung sold 141,420 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $63.24, for a total value of $8,943,400.80. Following the sale, the executive vice president now owns 432,744 shares of the company’s stock, valued at $27,366,730.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph Eid sold 5,327 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $64.00, for a total transaction of $340,928.00. Following the completion of the sale, the senior vice president now directly owns 2,534 shares in the company, valued at approximately $162,176. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,587 shares of company stock worth $11,782,297. Insiders own 0.14% of the company’s stock.
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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