Comerica Bank cut its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,227 shares of the biopharmaceutical company’s stock after selling 7,897 shares during the period. Comerica Bank’s holdings in Bristol-Myers Squibb were worth $35,253,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in BMY. Ray Gerald L & Associates Ltd. raised its stake in shares of Bristol-Myers Squibb by 5.2% in the first quarter. Ray Gerald L & Associates Ltd. now owns 169,125 shares of the biopharmaceutical company’s stock valued at $9,197,000 after buying an additional 8,340 shares during the period. Clean Yield Group acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $256,000. Aspen Investment Management Inc raised its stake in shares of Bristol-Myers Squibb by 0.4% in the first quarter. Aspen Investment Management Inc now owns 12,551 shares of the biopharmaceutical company’s stock valued at $683,000 after buying an additional 50 shares during the period. Baltimore Capital Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $1,291,000. Finally, Strategic Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 80.2% in the first quarter. Strategic Advisors LLC now owns 42,756 shares of the biopharmaceutical company’s stock valued at $2,325,000 after buying an additional 19,023 shares during the period. 69.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Company (NYSE BMY) traded down 0.62% during mid-day trading on Friday, reaching $56.42. The company’s stock had a trading volume of 4,809,885 shares. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45. The company has a 50-day moving average of $55.95 and a 200-day moving average of $54.96. The firm has a market cap of $92.52 billion, a PE ratio of 20.61 and a beta of 1.17. Bristol-Myers Squibb also was the recipient of some unusual options trading on Thursday. Investors bought 781 put options on the company. This is an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, analysts predict that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
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Several equities research analysts have recently commented on the stock. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 target price on the stock in a research note on Thursday. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday. Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.12.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by insiders.
About Bristol-Myers Squibb
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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