Sippican Capital Advisors cut its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,404 shares of the biopharmaceutical company’s stock after selling 340 shares during the period. Sippican Capital Advisors’ holdings in Bristol-Myers Squibb were worth $986,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BMY. Jolley Asset Management LLC increased its stake in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Univest Corp of Pennsylvania bought a new stake in Bristol-Myers Squibb during the second quarter worth $202,000. Smith & Howard Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth $204,000. Windsor Financial Group LLC bought a new stake in Bristol-Myers Squibb during the second quarter worth $205,000. Finally, Oakwood Capital Management LLC CA bought a new stake in Bristol-Myers Squibb during the second quarter worth $210,000. Institutional investors and hedge funds own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% during midday trading on Friday, hitting $49.77. 13,848,384 shares of the stock traded hands. Bristol-Myers Squibb Co. has a 52 week low of $49.12 and a 52 week high of $77.12. The firm has a market capitalization of $83.16 billion, a PE ratio of 29.11 and a beta of 0.74. The company’s 50-day moving average is $55.09 and its 200 day moving average is $66.31.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The business 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%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
A number of research firms recently weighed in on BMY. Leerink Swann restated an “outperform” rating and issued a $69.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday, October 9th. Morgan Stanley downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price target for the company. in a report on Friday, August 5th. Jefferies Group reiterated a “hold” rating and set a $57.00 price target (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Finally, Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the sale, the director now owns 334,499 shares in the company, valued at $19,022,958.13. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.
About Bristol-Myers Squibb
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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