Palladium Partners LLC reduced its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,260 shares of the biopharmaceutical company’s stock after selling 1,720 shares during the quarter. Palladium Partners LLC’s holdings in Bristol-Myers Squibb were worth $4,096,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP raised its stake in shares of Bristol-Myers Squibb by 10.7% in the second quarter. First Trust Advisors LP now owns 433,050 shares of the biopharmaceutical company’s stock worth $24,130,000 after purchasing an additional 41,892 shares during the last quarter. Advisor Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 6.9% in the third quarter. Advisor Partners LLC now owns 36,961 shares of the biopharmaceutical company’s stock valued at $2,356,000 after acquiring an additional 2,382 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Bristol-Myers Squibb by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 358,509 shares of the biopharmaceutical company’s stock valued at $19,976,000 after acquiring an additional 8,813 shares in the last quarter. Israel Discount Bank of New York grew its holdings in shares of Bristol-Myers Squibb by 31.8% in the second quarter. Israel Discount Bank of New York now owns 10,515 shares of the biopharmaceutical company’s stock valued at $586,000 after acquiring an additional 2,540 shares in the last quarter. Finally, Dividend Assets Capital LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $737,000. 69.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Theodore R. Samuels II purchased 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of $62.30 per share, with a total value of $249,200.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the transaction, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period last year, the company posted $0.77 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 6.7% on a year-over-year basis. equities research analysts predict that Bristol-Myers Squibb Co will post 2.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.59%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.99%.
Several research firms have recently issued reports on BMY. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 target price on shares of Bristol-Myers Squibb in a report on Wednesday, September 27th. Vetr raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.50 target price for the company in a report on Wednesday, September 27th. Leerink Swann upped their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 target price (up from $58.00) on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $65.11.
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Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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