Polianta Ltd acquired a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,300 shares of the biopharmaceutical company’s stock, valued at approximately $1,282,000. Bristol-Myers Squibb accounts for approximately 0.8% of Polianta Ltd’s investment portfolio, making the stock its 10th biggest position.
A number of other large investors have also made changes to their positions in the business. Polaris Greystone Financial Group LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at $229,000. TRUE Private Wealth Advisors grew its stake in shares of Bristol-Myers Squibb by 32.0% during the 3rd quarter. TRUE Private Wealth Advisors now owns 6,001 shares of the biopharmaceutical company’s stock worth $304,000 after acquiring an additional 1,456 shares during the period. Pacific Wealth Strategies Group Inc. grew its stake in shares of Bristol-Myers Squibb by 15.6% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 18,965 shares of the biopharmaceutical company’s stock worth $962,000 after acquiring an additional 2,565 shares during the period. Cardinal Capital Management Inc. grew its stake in shares of Bristol-Myers Squibb by 2.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 13,100 shares of the biopharmaceutical company’s stock worth $664,000 after acquiring an additional 300 shares during the period. Finally, TIAA FSB grew its stake in shares of Bristol-Myers Squibb by 123.7% during the 3rd quarter. TIAA FSB now owns 251,644 shares of the biopharmaceutical company’s stock worth $12,761,000 after acquiring an additional 139,142 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.
In related news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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 return on equity of 47.63% and a net margin of 26.14%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts forecast that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 3.23%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
Several research analysts have recently weighed in on BMY shares. Bank of America increased their price target on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. UBS Group cut their price target 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 target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, September 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a research note on Wednesday, August 14th. Finally, TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.74.
About Bristol-Myers Squibb
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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