Corundum Group Inc. Buys New Stake in Bristol-Myers Squibb Co (BMY)

Corundum Group Inc. bought a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,674 shares of the biopharmaceutical company’s stock, valued at approximately $298,000.

A number of other institutional investors have also recently modified their holdings of the stock. Green Square Capital LLC increased its holdings in Bristol-Myers Squibb by 5.4% during the 1st quarter. Green Square Capital LLC now owns 8,828 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 450 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its holdings in Bristol-Myers Squibb by 1.2% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 45,793 shares of the biopharmaceutical company’s stock worth $2,490,000 after purchasing an additional 532 shares in the last quarter. North Star Asset Management Inc. increased its holdings in Bristol-Myers Squibb by 5.8% during the 1st quarter. North Star Asset Management Inc. now owns 13,761 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 758 shares in the last quarter. Bath Savings Trust Co increased its holdings in Bristol-Myers Squibb by 16.9% during the 2nd quarter. Bath Savings Trust Co now owns 17,958 shares of the biopharmaceutical company’s stock worth $1,001,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its holdings in Bristol-Myers Squibb by 0.9% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 13,272 shares of the biopharmaceutical company’s stock worth $740,000 after purchasing an additional 120 shares in the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.

BMY has been the subject of a number of recent research reports. SunTrust Banks raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, November 1st. Barclays boosted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. BMO Capital Markets set a $49.00 price objective on Bristol-Myers Squibb and gave the stock a “sell” rating in a report on Thursday, October 26th. Finally, Leerink Swann boosted their price objective on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $65.05.

In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the sale, the executive vice president now owns 9,251 shares in the company, valued at $585,033.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Theodore R. Samuels II bought 4,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were bought at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Co (NYSE BMY) opened at $62.01 on Thursday. Bristol-Myers Squibb Co has a 12 month low of $46.01 and a 12 month high of $66.10. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $101,490.00, a P/E ratio of 24.41, a P/E/G ratio of 2.22 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the company posted $0.77 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts expect that Bristol-Myers Squibb Co will post 2.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a $0.40 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 4th. This represents a $1.60 annualized dividend and a yield of 2.58%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.99%.

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Bristol-Myers Squibb Profile

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

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