Louisiana State Employees Retirement System Has $6.07 Million Stake in Bristol-Myers Squibb Co (BMY)
Louisiana State Employees Retirement System reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 99,100 shares of the biopharmaceutical company’s stock after selling 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Bristol-Myers Squibb were worth $6,073,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. SPC Financial Inc. lifted its holdings in Bristol-Myers Squibb by 34.1% in the 4th quarter. SPC Financial Inc. now owns 5,894 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 1,500 shares in the last quarter. Hills Bank & Trust Co. lifted its holdings in Bristol-Myers Squibb by 11.2% in the 4th quarter. Hills Bank & Trust Co. now owns 16,396 shares of the biopharmaceutical company’s stock worth $1,005,000 after purchasing an additional 1,646 shares in the last quarter. Pennsylvania Trust Co lifted its holdings in Bristol-Myers Squibb by 0.9% in the 4th quarter. Pennsylvania Trust Co now owns 166,307 shares of the biopharmaceutical company’s stock worth $10,192,000 after purchasing an additional 1,420 shares in the last quarter. Atria Investments LLC lifted its holdings in Bristol-Myers Squibb by 17.1% in the 4th quarter. Atria Investments LLC now owns 48,561 shares of the biopharmaceutical company’s stock worth $2,976,000 after purchasing an additional 7,094 shares in the last quarter. Finally, Starfire Investment Advisers Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $262,000. 69.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on BMY. BMO Capital Markets set a $51.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a report on Wednesday. Piper Jaffray Companies reissued a “hold” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating and set a $60.72 price target on the stock in a report on Thursday, February 1st. Leerink Swann boosted their price target on Bristol-Myers Squibb from $71.00 to $76.00 and gave the stock a “positive” rating in a report on Tuesday, February 6th. Finally, Zacks Investment Research cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.58.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a return on equity of 33.68% and a net margin of 4.85%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. equities research analysts predict that Bristol-Myers Squibb Co will post 3.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s payout ratio is currently 271.19%.
In related news, Director Theodore R. Samuels II bought 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $62.30 per share, with a total value of $249,200.00. Following the transaction, the director now owns 22,000 shares in the company, valued at approximately $1,370,600. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares in the company, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Profile
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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