Berkshire Bank Purchases 763 Shares of Bristol-Myers Squibb (NYSE:BMY)

Berkshire Bank lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 53,235 shares of the biopharmaceutical company’s stock after purchasing an additional 763 shares during the period. Berkshire Bank’s holdings in Bristol-Myers Squibb were worth $3,150,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC lifted its stake in Bristol-Myers Squibb by 16.4% in the second quarter. ProShare Advisors LLC now owns 422,937 shares of the biopharmaceutical company’s stock worth $28,261,000 after acquiring an additional 59,611 shares during the period. Biondo Investment Advisors LLC lifted its stake in Bristol-Myers Squibb by 5.0% in the second quarter. Biondo Investment Advisors LLC now owns 96,114 shares of the biopharmaceutical company’s stock worth $6,422,000 after acquiring an additional 4,608 shares during the period. Taylor Frigon Capital Management LLC lifted its stake in Bristol-Myers Squibb by 8.7% in the second quarter. Taylor Frigon Capital Management LLC now owns 20,395 shares of the biopharmaceutical company’s stock worth $1,363,000 after acquiring an additional 1,639 shares during the period. Kentucky Retirement Systems purchased a new stake in Bristol-Myers Squibb in the second quarter worth $8,692,000. Finally, Rafferty Asset Management LLC lifted its stake in Bristol-Myers Squibb by 10.6% in the second quarter. Rafferty Asset Management LLC now owns 53,717 shares of the biopharmaceutical company’s stock worth $3,589,000 after acquiring an additional 5,132 shares during the period. Hedge funds and other institutional investors own 72.07% of the company’s stock.

A number of analysts recently commented on the company. Truist Securities assumed coverage on Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price target for the company. BMO Capital Markets began coverage on Bristol-Myers Squibb in a research note on Thursday, November 18th. They issued an “outperform” rating and a $72.00 price target for the company. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Monday, November 1st. Morgan Stanley lowered their price objective on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 12th. Finally, Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $69.20.

In related news, EVP Autenried Paul Von sold 17,353 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $56.92, for a total value of $987,732.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $60.64, for a total value of $1,516,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,716 shares of company stock valued at $3,553,545. 0.11% of the stock is owned by insiders.

Shares of BMY traded down $0.64 during trading hours on Thursday, hitting $56.81. The company had a trading volume of 17,685,249 shares, compared to its average volume of 10,797,460. The firm has a fifty day moving average price of $58.78 and a 200-day moving average price of $63.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.47. The stock has a market capitalization of $126.10 billion, a price-to-earnings ratio of -23.67, a P/E/G ratio of 1.08 and a beta of 0.61. Bristol-Myers Squibb has a 52-week low of $56.11 and a 52-week high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Tuesday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $11.52 billion. Bristol-Myers Squibb had a positive return on equity of 43.05% and a negative net margin of 11.89%. Bristol-Myers Squibb’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. Research analysts anticipate that Bristol-Myers Squibb will post 7.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 1st were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Thursday, September 30th. Bristol-Myers Squibb’s dividend payout ratio is presently -81.67%.

Bristol-Myers Squibb Company Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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