V Wealth Advisors LLC lowered its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 31.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751 shares of the biopharmaceutical company’s stock after selling 2,188 shares during the period. V Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $279,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. JCIC Asset Management Inc. bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $25,000. Perennial Advisors LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $27,000. CVA Family Office LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $28,000. MBE Wealth Management LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $41,000. Finally, AlphaCore Capital LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at approximately $49,000. 74.20% of the stock is owned by institutional investors and hedge funds.
BMY has been the topic of a number of recent research reports. ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Monday, June 1st. Seaport Global Securities began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 price target on the stock. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $68.00 to $88.00 in a research report on Tuesday, June 2nd. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a research report on Thursday, April 16th. Finally, Cfra reissued a “buy” rating and set a $70.00 price target on shares of Bristol-Myers Squibb in a research report on Sunday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Buy” and a consensus price target of $68.93.
In other news, EVP Louis S. Schmukler sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam Dubow sold 3,200 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $61.01, for a total transaction of $195,232.00. Following the transaction, the senior vice president now owns 16,086 shares in the company, valued at $981,406.86. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
BMY opened at $58.66 on Friday. The stock has a market capitalization of $132.73 billion, a P/E ratio of 72.42, a P/E/G ratio of 1.12 and a beta of 0.73. Bristol-Myers Squibb Co has a 12 month low of $44.00 and a 12 month high of $68.34. The firm’s fifty day simple moving average is $58.18 and its 200 day simple moving average is $60.16. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.23. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The firm had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.04 billion. During the same period in the previous year, the business earned $1.10 EPS. The company’s revenue was up 82.1% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb Co will post 6.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 6th will be paid a $0.45 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.80 annualized dividend and a yield of 3.07%. Bristol-Myers Squibb’s payout ratio is currently 38.38%.
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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