Cim Investment Management Inc. Has $1.43 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Cim Investment Management Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,441 shares of the biopharmaceutical company’s stock after selling 414 shares during the period. Cim Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Management Corp increased its position in shares of Bristol-Myers Squibb by 2.9% during the first quarter. Family Management Corp now owns 49,613 shares of the biopharmaceutical company’s stock valued at $3,132,000 after purchasing an additional 1,377 shares during the period. ProShare Advisors LLC increased its position in shares of Bristol-Myers Squibb by 16.4% during the second quarter. ProShare Advisors LLC now owns 422,937 shares of the biopharmaceutical company’s stock valued at $28,261,000 after purchasing an additional 59,611 shares during the period. Biondo Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 5.0% during the second quarter. Biondo Investment Advisors LLC now owns 96,114 shares of the biopharmaceutical company’s stock valued at $6,422,000 after purchasing an additional 4,608 shares during the period. Taylor Frigon Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 8.7% during the second quarter. Taylor Frigon Capital Management LLC now owns 20,395 shares of the biopharmaceutical company’s stock valued at $1,363,000 after purchasing an additional 1,639 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $8,692,000. 72.10% of the stock is currently owned by institutional investors.

In related news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $60.64, for a total transaction of $1,516,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David V. Elkins sold 99,691 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

BMY has been the topic of a number of research reports. Truist Securities initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective on the stock. TheStreet cut Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research report on Wednesday, September 22nd. Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Berenberg Bank reduced their price objective on Bristol-Myers Squibb from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Morgan Stanley reduced their price objective on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $72.42.

Shares of BMY traded up $0.75 during trading hours on Thursday, hitting $57.82. 287,890 shares of the stock traded hands, compared to its average volume of 10,687,207. The business has a fifty day moving average of $63.68 and a 200-day moving average of $65.03. The firm has a market capitalization of $128.48 billion, a PE ratio of -25.14, a price-to-earnings-growth ratio of 1.20 and a beta of 0.61. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $56.66 and a 1-year high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. The business had revenue of $11.70 billion during the quarter, compared to the consensus estimate of $11.24 billion. Bristol-Myers Squibb had a positive return on equity of 37.76% and a negative net margin of 11.44%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 1st will be issued a $0.49 dividend. The ex-dividend date is Thursday, September 30th. This represents a $1.96 annualized dividend and a dividend yield of 3.39%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 30.43%.

About Bristol-Myers Squibb

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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