Legacy Private Trust Co. decreased its position in Bristol-Myers Squibb (NYSE: BMY – Get Rating) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,816 shares of the biopharmaceutical company stock after selling 498 shares during the period. Legacy Private Trust Co.’s holdings in Bristol-Myers Squibb were worth $ 936,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BMY. Independence Bank of Kentucky boosted its stake in Bristol-Myers Squibb by 15.1% in the 4th quarter. Independence Bank of Kentucky now owns 18,439 shares of the biopharmaceutical company stock worth $ 1,150,000 after purchasing an additional 2,425 shares during the period. Pinnacle Private Wealth LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter worth $ 306,000. Bonness Enterprises Inc. boosted its stake in Bristol-Myers Squibb by 3.2% in the 4th quarter. Bonness Enterprises Inc. now owns 54,800 shares of the biopharmaceutical company stock worth $ 3,417,000 after purchasing an additional 1,700 shares during the period. Private Trust Co. NA boosted its stake in Bristol-Myers Squibb by 5.9% in the 4th quarter. Private Trust Co. NA now owns 55,145 shares of the biopharmaceutical company stock worth $ 3,438,000 after purchasing an additional 3,056 shares during the period. Finally, Vigilant Capital Management LLC boosted its stake in Bristol-Myers Squibb by 389.3% in the 4th quarter. Vigilant Capital Management LLC now owns 9,399 shares of the biopharmaceutical company stock worth $ 586,000 after purchasing an additional 7,478 shares during the period. 73.07% of the stock is owned by institutional investors.
Shares of BMY stock opened at $ 73.77 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.23 and a current ratio of 1.32. The firm’s 50-day moving average is $ 75.94 and its 200-day moving average is $ 69.73. The stock has a market cap of $ 157.06 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.56 and a beta of 0.49. Bristol-Myers Squibb has a 52-week low of $ 53.22 and a 52-week high of $ 78.61.
Bristol-Myers Squibb (NYSE: BMY – Get Rating) last released its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $ 1.96 earnings per share for the quarter, beating the consensus estimate of $ 1.92 by $ 0.04. The firm had revenue of $ 11.65 billion for the quarter, compared to analysts’ expectations of $ 11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $ 1.74 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 7.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be issued a $ 0.54 dividend. The ex-dividend date is Thursday, June 30th. This represents a $ 2.16 annualized dividend and a yield of 2.93%. Bristol-Myers Squibb’s dividend payout ratio is currently 76.60%.
A number of brokerages recently weighed in on BMY. Morgan Stanley reduced their target price on shares of Bristol-Myers Squibb from $ 66.00 to $ 64.00 and set an “underweight” rating for the company in a research note on Wednesday, April 6th. Barclays upped their target price on shares of Bristol-Myers Squibb from $ 66.00 to $ 68.00 in a research note on Monday, May 2nd. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $ 65.00 to $ 70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 17th. Guggenheim increased their price objective on shares of Bristol-Myers Squibb from $ 72.00 to $ 80.00 in a research note on Monday, May 2nd. Finally, Citigroup restated a “buy” rating and set a $ 90.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Buy” and an average target price of $ 74.27.
In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the 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 transaction, the executive vice president now owns 308,627 shares in the company, valued at approximately $ 23,113,076.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $ 74.04, for a total transaction of $ 2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $ 40,803,740.16. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
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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