Wright Investors Service Inc. acquired a new position in Bristol-Myers Squibb Co (NYSE:BMY) during the second quarter, Holdings Channel reports. The firm acquired 6,573 shares of the biopharmaceutical company’s stock, valued at approximately $299,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Financial Gravity Wealth Inc. bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $26,000. Private Ocean LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $28,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $32,000. James Investment Research Inc. raised its position in shares of Bristol-Myers Squibb by 36.5% during the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 219 shares during the period. Finally, Endurance Wealth Management Inc. raised its position in shares of Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 500 shares during the period. 77.37% of the stock is currently owned by institutional investors.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.50%. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.
A number of brokerages have recently issued reports on BMY. JPMorgan Chase & Co. began coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 target price on the stock. Barclays raised Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research report on Monday, May 20th. Finally, Goldman Sachs Group began coverage on Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $55.88.
Bristol-Myers Squibb Company Profile
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.
Featured Story: Why do analysts give a neutral rating?
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.