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

Berkshire Bank increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,235 shares of the biopharmaceutical company’s stock after purchasing an additional 763 shares during the quarter. Berkshire Bank’s holdings in Bristol-Myers Squibb were worth $3,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at $234,000. Hoylecohen LLC grew its position in shares of Bristol-Myers Squibb by 80.0% during the 1st quarter. Hoylecohen LLC now owns 113,661 shares of the biopharmaceutical company’s stock worth $7,175,000 after buying an additional 50,521 shares in the last quarter. Childress Capital Advisors LLC grew its position in shares of Bristol-Myers Squibb by 67.9% during the 1st quarter. Childress Capital Advisors LLC now owns 7,995 shares of the biopharmaceutical company’s stock worth $504,000 after buying an additional 3,234 shares in the last quarter. Regency Capital Management Inc. DE bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $43,000. Finally, Aspire Private Capital LLC grew its position in shares of Bristol-Myers Squibb by 3.4% during the 1st quarter. Aspire Private Capital LLC now owns 5,868 shares of the biopharmaceutical company’s stock worth $370,000 after buying an additional 192 shares in the last quarter. 72.07% of the stock is currently owned by hedge funds and other institutional investors.

BMY has been the subject of a number of analyst reports. Barclays decreased their price objective on Bristol-Myers Squibb from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, October 28th. Truist Securities initiated coverage on Bristol-Myers Squibb in a research note on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Berenberg Bank decreased their price objective on Bristol-Myers Squibb from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Monday, October 11th. BMO Capital Markets initiated coverage on Bristol-Myers Squibb in a research note on Thursday, November 18th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Morgan Stanley decreased 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 note on Tuesday, October 12th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $69.20.

In related news, EVP Autenried Paul Von sold 17,353 shares of the firm’s stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $56.92, for a total transaction of $987,732.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 25,000 shares of the firm’s 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. Over the last 90 days, insiders sold 60,716 shares of company stock valued at $3,553,545. Company insiders own 0.11% of the company’s stock.

Bristol-Myers Squibb stock traded down $0.64 during midday trading on Thursday, reaching $56.81. The company’s stock had a trading volume of 17,685,249 shares, compared to its average volume of 10,797,460. The stock’s 50-day simple moving average is $58.78 and its 200-day simple moving average is $63.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.47 and a quick ratio of 1.36. Bristol-Myers Squibb has a 52-week low of $56.11 and a 52-week high of $69.75. The stock has a market capitalization of $126.10 billion, a P/E ratio of -23.67, a PEG ratio of 1.08 and a beta of 0.61.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 1st were paid 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 payout ratio is -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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