Chesapeake Wealth Management lessened its holdings in shares of Bristol-Myers Squibb (NYSE: BMY – Get Rating) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,144 shares of the biopharmaceutical company stock after selling 573 shares during the period. Chesapeake Wealth Management’s holdings in Bristol-Myers Squibb were worth $ 1,033,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Lathrop Investment Management Corp grew its holdings in Bristol-Myers Squibb by 27.2% in the first quarter. Lathrop Investment Management Corp now owns 4,869 shares of the biopharmaceutical company stock valued at $ 356,000 after purchasing an additional 1,041 shares during the last quarter. American Trust Investment Advisors LLC grew its holdings in Bristol-Myers Squibb by 1.6% in the first quarter. American Trust Investment Advisors LLC now owns 10,418 shares of the biopharmaceutical company stock valued at $ 761,000 after purchasing an additional 160 shares during the last quarter. Avity Investment Management Inc. grew its holdings in Bristol-Myers Squibb by 6.6% in the first quarter. Avity Investment Management Inc. now owns 267,083 shares of the biopharmaceutical company stock valued at $ 19,505,000 after purchasing an additional 16,555 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Bristol-Myers Squibb by 13.3% in the first quarter. Resonant Capital Advisors LLC now owns 42,163 shares of the biopharmaceutical company stock valued at $ 3,135,000 after purchasing an additional 4,958 shares during the last quarter. Finally, Secure Asset Management LLC grew its holdings in Bristol-Myers Squibb by 20.4% in the first quarter. Secure Asset Management LLC now owns 10,762 shares of the biopharmaceutical company stock valued at $ 786,000 after purchasing an additional 1,821 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BMY opened at $ 78.70 on Wednesday. The business’s 50-day moving average price is $ 76.07 and its 200 day moving average price is $ 70.52. Bristol-Myers Squibb has a twelve month low of $ 53.22 and a twelve month high of $ 80.59. The company has a market capitalization of $ 167.56 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.67 and a beta of 0.49. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 1.18.
Bristol-Myers Squibb (NYSE: BMY – Get Rating) last released its earnings results on Friday, April 29th. The biopharmaceutical company reported $ 1.96 earnings per share for the quarter, topping the consensus estimate of $ 1.92 by $ 0.04. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The firm had revenue of $ 11.65 billion for the quarter, compared to the consensus estimate of $ 11.34 billion. During the same period in the prior year, the business posted $ 1.74 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 7.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 1st will be issued a $ 0.54 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $ 2.16 dividend on an annualized basis and a dividend yield of 2.74%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 76.60%.
In other news, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $ 74.04, for a total value of $ 2,221,200.00. Following the completion of the sale, the chief executive officer now owns 551,104 shares in the company, valued at $ 40,803,740.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sandra Leung sold 65,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $ 74.89, for a total value of $ 4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company stock, valued at approximately $ 23,113,076.03. The disclosure for this sale can be found here. Company insiders own 0.09% of the company stock.
Several research firms have weighed in on BMY. Barclays upped their target price on Bristol-Myers Squibb from $ 66.00 to $ 68.00 in a report on Monday, May 2nd. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $ 65.00 to $ 70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 17th. Raymond James lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $ 87.00 to $ 92.00 in a research report on Monday, May 2nd. Finally, Truist Financial upped their price target on Bristol-Myers Squibb from $ 76.00 to $ 81.00 in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $ 74.27.
Bristol-Myers Squibb Profile: (Get Rating)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke / systemic embolism in NVAF, and for the treatment of DVT / PE; Opdivo for anti-cancer indications; Pomalyst / Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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