Tiedemann Advisors LLC lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 58.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,555 shares of the biopharmaceutical company’s stock after selling 11,921 shares during the quarter. Tiedemann Advisors LLC’s holdings in Bristol-Myers Squibb were worth $388,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Ocean LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $28,000. James Investment Research Inc. lifted its holdings in shares of Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 219 shares during the period. Endurance Wealth Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 500 shares during the period. SeaBridge Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 47.4% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 300 shares during the period. Finally, HMS Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth $45,000. 80.27% of the stock is currently owned by hedge funds and other institutional investors.
BMY has been the subject of several research reports. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a report on Wednesday, August 14th. UBS Group lowered their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, June 13th. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. Goldman Sachs Group initiated coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price for the company. Finally, Bank of America upped their target price on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $55.74.
Shares of BMY stock traded down $0.18 during mid-day trading on Friday, reaching $49.43. The stock had a trading volume of 7,133,918 shares, compared to its average volume of 9,219,586. The business’s fifty day moving average is $47.00 and its 200-day moving average is $47.13. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The firm has a market cap of $81.15 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 2.44 and a beta of 0.70. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.69.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, analysts forecast that Bristol-Myers Squibb Co will post 4.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
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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