Artemis Investment Management LLP lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 889,412 shares of the biopharmaceutical company’s stock after selling 111,070 shares during the period. Artemis Investment Management LLP’s holdings in Bristol-Myers Squibb were worth $56,102,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Telos Capital Management Inc. grew its position in Bristol-Myers Squibb by 1.0% during the 1st quarter. Telos Capital Management Inc. now owns 212,411 shares of the biopharmaceutical company’s stock worth $13,410,000 after acquiring an additional 2,084 shares during the last quarter. Bender Robert & Associates grew its holdings in shares of Bristol-Myers Squibb by 6.6% during the first quarter. Bender Robert & Associates now owns 13,779 shares of the biopharmaceutical company’s stock worth $870,000 after purchasing an additional 851 shares during the last quarter. Cypress Wealth Services LLC increased its stake in shares of Bristol-Myers Squibb by 18.4% in the first quarter. Cypress Wealth Services LLC now owns 14,153 shares of the biopharmaceutical company’s stock valued at $894,000 after buying an additional 2,195 shares in the last quarter. Probity Advisors Inc. bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $329,000. Finally, Manning & Napier Group LLC lifted its position in Bristol-Myers Squibb by 2.5% during the 1st quarter. Manning & Napier Group LLC now owns 604,292 shares of the biopharmaceutical company’s stock worth $38,148,000 after buying an additional 14,757 shares in the last quarter. 72.41% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $62.20, for a total value of $1,555,000.00. Following the completion of the sale, the chief executive officer now owns 528,980 shares in the company, valued at $32,902,556. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Wednesday, April 28th. The biopharmaceutical company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.08). The business had revenue of $11.07 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 earnings per share. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Thursday, April 1st were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Wednesday, March 31st. Bristol-Myers Squibb’s payout ratio is currently 41.79%.
Several equities research analysts have recently commented on the company. TheStreet raised Bristol-Myers Squibb from a “c” rating to a “b” rating in a research note on Thursday, April 29th. Truist raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Truist Financial upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, April 13th. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $70.00 to $62.00 in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, April 6th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.81.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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