RE Advisers Corp Has $150,444,000 Position in Bristol-Myers Squibb Company (BMY)
RE Advisers Corp held its stake in Bristol-Myers Squibb Company (NYSE:BMY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,700,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Bristol-Myers Squibb accounts for 2.4% of RE Advisers Corp’s investment portfolio, making the stock its 10th largest position. RE Advisers Corp owned 0.16% of Bristol-Myers Squibb worth $150,444,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BMY. American National Bank raised its stake in Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Welch Investments LLC raised its stake in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC acquired a new stake in Bristol-Myers Squibb during the first quarter valued at $116,000. Blue Chip Partners Inc. raised its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in Bristol-Myers Squibb by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 504 shares during the period. 69.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded up 0.34% during trading on Friday, hitting $58.37. The stock had a trading volume of 4,070,765 shares. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $60.45. The firm has a 50-day moving average price of $56.20 and a 200 day moving average price of $55.23. The company has a market capitalization of $95.72 billion, a PE ratio of 21.32 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.67%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.
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Several research firms recently weighed in on BMY. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective (up from $63.00) on shares of Bristol-Myers Squibb in a research note on Thursday. BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 price objective on the stock in a research note on Thursday, August 17th. Finally, Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $62.31.
In other news, Director Theodore R. Samuels II purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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