IMS Capital Management Sells 9,017 Shares of Bristol-Myers Squibb Co (NYSE:BMY)
IMS Capital Management cut its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,812 shares of the biopharmaceutical company’s stock after selling 9,017 shares during the period. IMS Capital Management’s holdings in Bristol-Myers Squibb were worth $650,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Private Ocean LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $28,000. Lenox Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 555.7% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 539 shares during the last quarter. Endurance Wealth Management Inc. boosted its position in Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 500 shares during the last quarter. HMS Capital Management LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at $45,000. Finally, Evolution Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 80.17% of the company’s stock.
A number of research analysts have commented on BMY shares. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday, September 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Bank of America increased their price objective on Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Buy” and a consensus price target of $55.74.
Shares of BMY stock traded up $0.47 during trading hours on Wednesday, reaching $50.83. The company had a trading volume of 7,072,438 shares, compared to its average volume of 15,342,337. The company has a 50 day moving average of $49.18 and a 200 day moving average of $47.02. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The firm has a market cap of $83.02 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 2.50 and a beta of 0.72. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.35.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.12. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. As a group, sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 41.21%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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