Dundas Partners LLP raised its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,293 shares of the biopharmaceutical company’s stock after purchasing an additional 2,864 shares during the quarter. Dundas Partners LLP’s holdings in Bristol-Myers Squibb were worth $6,679,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BMY. Financial Gravity Wealth Inc. purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $26,000. Private Ocean LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $28,000. Trust Department MB Financial Bank N A purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $32,000. James Investment Research Inc. increased its stake 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 valued at $39,000 after buying an additional 219 shares during the period. Finally, Endurance Wealth Management Inc. increased its stake 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 valued at $42,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 77.37% of the company’s stock.
Shares of NYSE:BMY opened at $46.49 on Wednesday. Bristol-Myers Squibb Co has a 12-month low of $42.48 and a 12-month high of $63.69. The firm has a market capitalization of $77.40 billion, a P/E ratio of 11.68, a PEG ratio of 2.34 and a beta of 0.73. The firm has a 50 day moving average of $45.29. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.
Several brokerages have recently commented on BMY. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research note on Monday, May 20th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on Bristol-Myers Squibb in a research note on Friday, May 3rd. They issued an “overweight” rating and a $62.00 target price on the stock. UBS Group cut their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Finally, Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $55.34.
In other news, insider Karen Murphy Santiago sold 3,065 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total transaction of $145,771.40. Following the completion of the transaction, the insider now directly owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert J. Bertolini bought 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the purchase, the director now owns 11,397 shares in the company, valued at $509,673.84. The disclosure for this purchase can be found here. Corporate insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb 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.
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