Eqis Capital Management Inc. raised its position in Bristol-Myers Squibb Co (NYSE:BMY) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,429 shares of the biopharmaceutical company’s stock after buying an additional 11,002 shares during the quarter. Eqis Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,318,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at $26,000. Lenox Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 555.7% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 539 shares during the period. Financial Gravity Wealth Inc. grew its holdings in shares of Bristol-Myers Squibb by 101.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 327 shares during the period. 1 North Wealth Services LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $41,000. Finally, Endurance Wealth Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 80.90% of the company’s stock.
A number of research analysts have weighed in on the company. JPMorgan Chase & Co. set a $62.00 target price on Bristol-Myers Squibb and gave the stock a “buy” rating in a report on Friday, September 13th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Peel Hunt restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, October 29th. Wolfe Research set a $66.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus target price of $56.64.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.11. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.89 billion. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. Analysts anticipate that Bristol-Myers Squibb Co will post 4.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.79%. Bristol-Myers Squibb’s payout ratio is 41.21%.
In other news, insider Louis S. Schmukler sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the completion of the transaction, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John E. Elicker sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total value of $849,900.00. Following the transaction, the senior vice president now owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
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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