Bristol-Myers Squibb Company (BMY) Stake Decreased by Covington Investment Advisors Inc.
Covington Investment Advisors Inc. trimmed its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,664 shares of the biopharmaceutical company’s stock after selling 100 shares during the quarter. Covington Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $2,099,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after acquiring an additional 1,223,457 shares during the period. Jennison Associates LLC lifted its position in shares of Bristol-Myers Squibb by 5.4% during the 2nd quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock valued at $1,288,179,000 after acquiring an additional 1,184,652 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Bristol-Myers Squibb by 18.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after buying an additional 2,451,390 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Bristol-Myers Squibb by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 8,431,348 shares of the biopharmaceutical company’s stock worth $469,802,000 after buying an additional 217,920 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Bristol-Myers Squibb by 27.2% during the 1st quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock worth $322,020,000 after buying an additional 1,267,900 shares during the last quarter. Hedge funds and other institutional investors own 69.51% of the company’s stock.
Shares of Bristol-Myers Squibb Company (BMY) opened at $61.32 on Friday. The firm has a market capitalization of $101,260.00, a PE ratio of 20.69, a PEG ratio of 2.42 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. Bristol-Myers Squibb Company has a one year low of $46.01 and a one year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. sell-side analysts expect that Bristol-Myers Squibb Company will post 2.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a $0.39 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.54%. Bristol-Myers Squibb’s payout ratio is 61.42%.
Several analysts recently weighed in on BMY shares. Credit Suisse Group restated a “hold” rating and set a $61.00 price objective (up from $58.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Cowen and Company restated a “hold” rating and set a $65.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, September 19th. Jefferies Group LLC upped their price objective on Bristol-Myers Squibb from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Piper Jaffray Companies restated a “hold” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Finally, Leerink Swann upped their price objective on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $64.93.
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In other news, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.23% 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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