Schmidt P J Investment Management Inc. trimmed its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,045 shares of the biopharmaceutical company’s stock after selling 1,513 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,321,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in BMY. Garrett Wealth Advisory Group LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $26,000. Lenox Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 555.7% in the 3rd 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. Financial Gravity Wealth Inc. increased its stake in Bristol-Myers Squibb by 101.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 327 shares during the period. Endurance Wealth Management Inc. increased its stake in Bristol-Myers Squibb by 119.6% in the 2nd 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. Finally, HMS Capital Management LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $45,000. 80.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert J. Bertolini bought 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the transaction, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by 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. 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%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, research analysts forecast that Bristol-Myers Squibb Co will post 4.28 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 given a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.02%. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
BMY has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday. Atlantic Securities raised 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. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Bank of America initiated coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, October 16th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, ValuEngine cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $55.86.
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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