Gibraltar Capital Management Inc. Raises Stock Holdings in Bristol-Myers Squibb Co (NYSE:BMY)
Gibraltar Capital Management Inc. raised its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,521 shares of the biopharmaceutical company’s stock after purchasing an additional 5,145 shares during the period. Bristol-Myers Squibb accounts for approximately 3.1% of Gibraltar Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Gibraltar Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $4,083,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at $28,000. Lenox Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 539 shares during the period. Endurance Wealth Management Inc. boosted its stake in Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 500 shares during the period. HMS Capital Management LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at $45,000. Finally, Global Trust Asset Management LLC boosted its stake in Bristol-Myers Squibb by 251.1% during the second quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 2,511 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. UBS Group dropped their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, June 13th. JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective for the company in a research note on Wednesday, August 14th. Finally, TheStreet raised Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Buy” and an average price target of $55.74.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.23%. Bristol-Myers Squibb’s payout ratio is 41.21%.
In other news, Director Robert J. Bertolini purchased 11,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now directly 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 SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
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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