Sequoia Financial Advisors LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,467 shares of the biopharmaceutical company’s stock after buying an additional 1,454 shares during the period. Sequoia Financial Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,320,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dakota Wealth Management purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $332,000. Covestor Ltd lifted its position in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $1,997,000. Finally, Mackenzie Financial Corp lifted its position in Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the last quarter. Hedge funds and other institutional investors own 74.57% of the company’s stock.
Insider Buying and Selling at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 50,385 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $67.06, for a total value of $3,378,818.10. Following the completion of the transaction, the executive vice president now directly owns 47,751 shares of the company’s stock, valued at $3,202,182.06. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb Trading Down 1.2 %
Bristol-Myers Squibb (NYSE:BMY – Free Report) last posted its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $11.34 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a net margin of 15.95% and a return on equity of 51.75%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 8.07 EPS for the current year.
Bristol-Myers Squibb Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.64%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 66.47%.
Analyst Upgrades and Downgrades
BMY has been the subject of a number of research reports. Bank of America boosted their price target on shares of Bristol-Myers Squibb from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 21st. 51job reissued a “maintains” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 28th. StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Barclays reduced their price target on shares of Bristol-Myers Squibb from $66.00 to $65.00 in a research report on Monday, May 1st. Finally, Credit Suisse Group dropped their price objective on shares of Bristol-Myers Squibb from $78.00 to $72.00 in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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