RS Investment Management Co. LLC lowered its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 30.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 366,010 shares of the biopharmaceutical company’s stock after selling 159,990 shares during the period. RS Investment Management Co. LLC’s holdings in Bristol-Myers Squibb were worth $26,920,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. IBM Retirement Fund boosted its position in Bristol-Myers Squibb by 1.1% in the second quarter. IBM Retirement Fund now owns 219,448 shares of the biopharmaceutical company’s stock worth $16,627,000 after buying an additional 2,421 shares in the last quarter. Bank of Montreal Can bought a new position in Bristol-Myers Squibb during the second quarter worth about $154,732,000. Howard Capital Management boosted its position in Bristol-Myers Squibb by 0.7% in the second quarter. Howard Capital Management now owns 153,499 shares of the biopharmaceutical company’s stock worth $11,290,000 after buying an additional 1,068 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Bristol-Myers Squibb by 19.4% in the second quarter. Handelsbanken Fonder AB now owns 141,365 shares of the biopharmaceutical company’s stock worth $10,397,000 after buying an additional 23,000 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Bristol-Myers Squibb by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,460,780 shares of the biopharmaceutical company’s stock valued at $107,440,000 after buying an additional 15,313 shares during the period. Institutional investors and hedge funds own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 10.14% during trading on Monday, reaching $49.81. 65,241,277 shares of the company’s stock were exchanged. Bristol-Myers Squibb Co. has a 12 month low of $49.54 and a 12 month high of $77.12. The firm has a market cap of $83.23 billion, a price-to-earnings ratio of 29.13 and a beta of 0.75. The stock has a 50-day moving average price of $56.41 and a 200 day moving average price of $66.79.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. On average, analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
Several equities analysts have issued reports on BMY shares. Morgan Stanley restated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Deutsche Bank AG cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Citigroup Inc. reduced their price objective on shares of Bristol-Myers Squibb from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, September 20th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $69.31.
In related news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $59.17, for a total value of $1,372,744.00. Following the transaction, the director now owns 364,999 shares in the company, valued at approximately $21,596,990.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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