Highland Capital Management LLC grew its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,436 shares of the biopharmaceutical company’s stock after acquiring an additional 1,810 shares during the quarter. Highland Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $5,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently made changes to their positions in BMY. Independence Bank of Kentucky raised its position in shares of Bristol-Myers Squibb by 15.1% in the 4th quarter. Independence Bank of Kentucky now owns 18,439 shares of the biopharmaceutical company’s stock worth $1,150,000 after acquiring an additional 2,425 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Bristol-Myers Squibb by 104.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,019 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 5,619 shares during the last quarter. Pinnacle Private Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $306,000. Bonness Enterprises Inc. boosted its position in Bristol-Myers Squibb by 3.2% during the fourth quarter. Bonness Enterprises Inc. now owns 54,800 shares of the biopharmaceutical company’s stock worth $3,417,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in Bristol-Myers Squibb by 5.9% during the fourth quarter. Private Trust Co. NA now owns 55,145 shares of the biopharmaceutical company’s stock worth $3,438,000 after purchasing an additional 3,056 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company stock.
A number of equity analysts have commented on the company. Raymond James cut 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. Truist Financial lifted their price target on Bristol-Myers Squibb from $76.00 to $81.00 in a report on Monday, May 2nd. StockNews.com initiated coverage on Bristol-Myers Squibb in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. Finally, Bank of America boosted their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.27.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $ 74.04, for a total transaction of $ 2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares in the company, valued at $40,803,740.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sandra Leung sold 65,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $ 74.89, for a total transaction of $ 4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb stock opened at $78.70 on Wednesday. The company has a market capitalization of $167.56 billion, a P/E ratio of 27.91, a P/E/G 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 has a 1-year low of $53.22 and a 1-year high of $80.59. The firm’s fifty-day simple moving average is $76.07 and its 200-day simple moving average is $70.52.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $ 1.96 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.34 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio is 76.60%.
About Bristol-Myers Squibb: (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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