Ropes Wealth Advisors LLC reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 68,581 shares of the biopharmaceutical company’s stock after selling 362 shares during the period. Ropes Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $3,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Financial Gravity Wealth Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $26,000. Private Ocean LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $28,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $32,000. James Investment Research Inc. boosted its position in shares of Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 219 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its position in shares of Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 500 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

In other news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $47.29 per share, with a total value 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. Insiders own 0.13% of the company’s stock.

Several equities research analysts recently commented on the stock. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, May 7th. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective on the stock. in a research report on Monday, May 20th. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.34.

Shares of Bristol-Myers Squibb stock traded up $0.18 on Tuesday, hitting $46.69. The company’s stock had a trading volume of 447,618 shares, compared to its average volume of 15,124,619. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $63.69. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average of $45.27. The stock has a market cap of $77.40 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.34 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.51%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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