Garde Capital Inc. bought a new stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,581 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. Nordea Investment Management AB boosted its position in Bristol-Myers Squibb by 97.0% during the 2nd quarter. Nordea Investment Management AB now owns 19,622,338 shares of the biopharmaceutical company’s stock valued at $1,131,816,000 after acquiring an additional 9,660,989 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 203,888,386 shares of the biopharmaceutical company’s stock valued at $11,988,638,000 after purchasing an additional 4,984,471 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $220,922,000. Federated Hermes Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1,698.8% during the 2nd quarter. Federated Hermes Inc. now owns 2,539,713 shares of the biopharmaceutical company’s stock valued at $149,336,000 after purchasing an additional 2,398,525 shares during the last quarter. Finally, AJO LP lifted its holdings in shares of Bristol-Myers Squibb by 334.5% during the 2nd quarter. AJO LP now owns 2,742,541 shares of the biopharmaceutical company’s stock valued at $161,260,000 after purchasing an additional 2,111,314 shares during the last quarter. 72.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Joseph Eid sold 5,327 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.00, for a total transaction of $340,928.00. Following the sale, the senior vice president now directly owns 2,534 shares in the company, valued at approximately $162,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sandra Leung sold 141,420 shares of the firm’s stock in a transaction dated 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 in the company, valued at $27,366,730.56. The disclosure for this sale can be found here. Insiders have sold a total of 186,587 shares of company stock valued at $11,782,297 in the last quarter. Company insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.15. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.04 billion. Bristol-Myers Squibb had a positive return on equity of 28.47% and a negative net margin of 1.61%. The company’s revenue was up 61.5% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. As a group, research analysts expect that Bristol-Myers Squibb Co will post 6.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.03%. Bristol-Myers Squibb’s payout ratio is currently 38.38%.
Several analysts have recently commented on the company. Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $68.00 to $88.00 in a report on Tuesday, June 2nd. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Cfra restated a “buy” rating and issued a $70.00 target price on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. Finally, Raymond James assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.08.
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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