Close Asset Management Ltd decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,956 shares of the biopharmaceutical company's stock after selling 37,250 shares during the period. Close Asset Management Ltd's holdings in Bristol Myers Squibb were worth $7,871,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new position in Bristol Myers Squibb during the 4th quarter worth approximately $16,651,000. Avaii Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after acquiring an additional 67,221 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC grew its stake in shares of Bristol Myers Squibb by 2.2% during the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock worth $3,305,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after buying an additional 80,087 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.
Bristol Myers Squibb Stock Up 2.9%
Shares of BMY opened at $48.06 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a market cap of $97.80 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 2.44 and a beta of 0.36. The company's 50-day moving average price is $47.47 and its 200 day moving average price is $52.89. Bristol Myers Squibb Company has a 12-month low of $41.90 and a 12-month high of $63.33.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the company earned ($4.40) earnings per share. The company's revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.
Insider Activity at Bristol Myers Squibb
In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Morgan Stanley dropped their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research report on Thursday, July 10th. UBS Group dropped their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $57.69.
Read Our Latest Report on Bristol Myers Squibb
About Bristol Myers Squibb
(
Free Report)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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