Kavar Capital Partners LLC bought a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,275 shares of the biopharmaceutical company’s stock, valued at approximately $194,000.
Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at about $26,000. Private Ocean LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $28,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $32,000. James Investment Research Inc. boosted its position in shares of Bristol-Myers Squibb by 36.5% during the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 219 shares during the period. Finally, Endurance Wealth Management Inc. boosted its position in shares of Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 500 shares during the period. 77.37% of the stock is currently owned by institutional investors and hedge funds.
BMY has been the subject of several recent research reports. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price objective on the stock. 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 note on Tuesday, May 7th. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. Finally, Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $55.88.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.
In other news, Director Robert J. Bertolini bought 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.
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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