Moseley Investment Management Inc. grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,720 shares of the biopharmaceutical company’s stock after acquiring an additional 400 shares during the quarter. Moseley Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $249,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Franklin Resources Inc. increased its holdings in shares of Bristol-Myers Squibb by 32.6% during the first quarter. Franklin Resources Inc. now owns 19,468,426 shares of the biopharmaceutical company’s stock valued at $1,229,043,000 after acquiring an additional 4,786,073 shares in the last quarter. Factorial Partners LLC increased its stake in Bristol-Myers Squibb by 10,082.3% during the 1st quarter. Factorial Partners LLC now owns 3,787,800 shares of the biopharmaceutical company’s stock valued at $60,000,000 after purchasing an additional 3,750,600 shares in the last quarter. ARK Investment Management LLC purchased a new position in Bristol-Myers Squibb in the first quarter worth about $137,618,000. BlackRock Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.2% in the first quarter. BlackRock Inc. now owns 176,410,048 shares of the biopharmaceutical company’s stock worth $11,136,766,000 after buying an additional 2,079,793 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $92,578,000. 72.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on BMY shares. Truist assumed coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price objective on the stock. Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. Truist Securities initiated coverage on shares of Bristol-Myers Squibb in a report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $73.83.
Shares of BMY opened at $60.50 on Tuesday. The business has a 50-day simple moving average of $66.62 and a two-hundred day simple moving average of $65.37. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. Bristol-Myers Squibb has a 52 week low of $56.75 and a 52 week high of $69.75. The stock has a market cap of $134.44 billion, a price-to-earnings ratio of -26.65, a PEG ratio of 1.20 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The company had revenue of $11.70 billion during the quarter, compared to analyst estimates of $11.24 billion. On average, equities analysts anticipate that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 1st will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, September 30th. Bristol-Myers Squibb’s dividend payout ratio is currently 30.43%.
Bristol-Myers Squibb Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
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