BigSur Wealth Management LLC Cuts Position in Bristol-Myers Squibb Co (BMY)
BigSur Wealth Management LLC trimmed its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 42.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,050 shares of the biopharmaceutical company’s stock after selling 4,500 shares during the quarter. BigSur Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $386,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BMY. Vanguard Group Inc. grew its holdings in Bristol-Myers Squibb by 0.3% in the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares during the last quarter. BlackRock Inc. grew its holdings in Bristol-Myers Squibb by 2.4% in the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares during the last quarter. Dodge & Cox grew its holdings in Bristol-Myers Squibb by 1.6% in the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares during the last quarter. Northern Trust Corp grew its holdings in Bristol-Myers Squibb by 3.9% in the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 5.4% in the second quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock worth $1,288,179,000 after purchasing an additional 1,184,652 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors.
Several research firms have issued reports on BMY. Vetr lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 price target on the stock. in a report on Thursday, September 28th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Cowen reaffirmed a “hold” rating and issued a $65.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 19th. Finally, Citigroup lifted their price target on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.42.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the transaction, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the transaction, the executive vice president now owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.
Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $61.89 on Monday. The firm has a market cap of $101,295.37, a price-to-earnings ratio of 24.37, a PEG ratio of 2.22 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb Co has a 1-year low of $46.01 and a 1-year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. Bristol-Myers Squibb’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. analysts predict that Bristol-Myers Squibb Co will post 2.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.59%. Bristol-Myers Squibb’s payout ratio is 62.99%.
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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