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Bessemer Group Inc. decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 36.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,560 shares of the biopharmaceutical company’s stock after selling 38,240 shares during the period. Bessemer Group Inc.’s holdings in Bristol Myers Squibb were worth $4,060,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Finally, Fairway Wealth LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Institutional investors own 76.41% of the company’s stock.
Bristol Myers Squibb Stock Performance
Shares of BMY stock opened at $46.34 on Friday. The business’s 50 day simple moving average is $47.90 and its 200 day simple moving average is $53.94. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The stock has a market capitalization of $94.31 billion, a PE ratio of 17.36, a PEG ratio of 1.38 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the prior year, the business earned ($4.40) EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 yield of 5.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 92.88%.
Analysts Set New Price Targets
A number of research firms have weighed in on BMY. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group reduced their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Argus raised Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $58.00.
Read Our Latest Stock Report on Bristol Myers Squibb
Insider Activity at Bristol Myers Squibb
In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.
Bristol Myers Squibb Profile
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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