Mengis Capital Management Inc. Boosts Position in Bristol-Myers Squibb Co. (BMY)
Mengis Capital Management Inc. raised its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,519 shares of the biopharmaceutical company’s stock after buying an additional 1,401 shares during the period. Bristol-Myers Squibb makes up approximately 2.9% of Mengis Capital Management Inc.’s holdings, making the stock its 10th largest position. Mengis Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,274,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Williams Jones & Associates LLC raised its position in shares of Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock valued at $25,315,000 after buying an additional 6,125 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth $264,000. Exxonmobil Investment Management Inc. TX raised its position in shares of Bristol-Myers Squibb by 8.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 406,473 shares of the biopharmaceutical company’s stock worth $25,965,000 after buying an additional 32,540 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Bristol-Myers Squibb by 9.3% in the first quarter. Capstone Asset Management Co. now owns 33,747 shares of the biopharmaceutical company’s stock worth $2,156,000 after buying an additional 2,870 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Bristol-Myers Squibb by 14.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 379,727 shares of the biopharmaceutical company’s stock worth $24,257,000 after buying an additional 48,888 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.87% during trading on Tuesday, reaching $55.56. The company had a trading volume of 9,934,824 shares. The firm’s 50 day moving average price is $60.17 and its 200 day moving average price is $67.73. Bristol-Myers Squibb Co. has a 12 month low of $55.02 and a 12 month high of $77.12. The firm has a market capitalization of $92.83 billion, a P/E ratio of 32.49 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
A number of research analysts have recently weighed in on BMY shares. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.79 price objective on the stock in a report on Tuesday, June 7th. TheStreet raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, May 31st. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 13th. Finally, Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.64.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $74.45, for a total transaction of $1,727,240.00. Following the transaction, the director now owns 380,099 shares in the company, valued at approximately $28,298,370.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.
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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