DNB Asset Management AS lowered its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 307,312 shares of the biopharmaceutical company’s stock after selling 134,794 shares during the period. DNB Asset Management AS’s holdings in Bristol-Myers Squibb were worth $15,584,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BMY. Lenox Wealth Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 539 shares during the period. Financial Gravity Wealth Inc. increased its stake in shares of Bristol-Myers Squibb by 101.2% during the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 327 shares during the period. Endurance Wealth Management Inc. grew its stake in Bristol-Myers Squibb by 119.6% in the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares during the last quarter. HMS Capital Management LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at about $45,000. Finally, Global Trust Asset Management LLC grew its stake in Bristol-Myers Squibb by 251.1% in the second quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 2,511 shares during the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.
Shares of NYSE BMY opened at $51.51 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The company has a market cap of $84.34 billion, a PE ratio of 12.94, a P/E/G ratio of 2.54 and a beta of 0.72. The business has a 50-day simple moving average of $49.77 and a two-hundred day simple moving average of $47.14. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $59.28.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
BMY has been the topic of several analyst reports. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 14th. Bank of America initiated coverage on Bristol-Myers Squibb in a research note on Wednesday. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. set a $62.00 target price on Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Buy” and a consensus price target of $56.53.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.
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.
Recommended Story: How to calculate the intrinsic value of a stock
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.