Bristol-Myers Squibb Co (NYSE:BMY) Shares Sold by Hamel Associates Inc.
Hamel Associates Inc. reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,749 shares of the biopharmaceutical company’s stock after selling 1,224 shares during the quarter. Hamel Associates Inc.’s holdings in Bristol-Myers Squibb were worth $351,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in BMY. FMR LLC raised its stake in Bristol-Myers Squibb by 313.9% during the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after acquiring an additional 30,981,844 shares in the last quarter. Janus Henderson Group PLC raised its stake in Bristol-Myers Squibb by 75.7% during the 2nd quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after acquiring an additional 6,960,047 shares in the last quarter. Nordea Investment Management AB raised its stake in Bristol-Myers Squibb by 380.2% during the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after acquiring an additional 4,950,748 shares in the last quarter. Ronna Sue Cohen raised its stake in Bristol-Myers Squibb by 4,702.2% during the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock worth $1,518,000 after acquiring an additional 1,486,612 shares in the last quarter. Finally, PGGM Investments acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth $49,045,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.
In other news, Director Robert J. Bertolini purchased 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. Bristol-Myers Squibb’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. As a group, sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
BMY has been the topic of several research analyst reports. ValuEngine lowered shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $53.00 to $55.00 in a research note on Friday, May 3rd. Goldman Sachs Group initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research note on Monday, May 20th. Finally, Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $55.88.
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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