Logan Capital Management Inc. Raises Position in Bristol-Myers Squibb Company (BMY)
Logan Capital Management Inc. raised its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,142 shares of the biopharmaceutical company’s stock after buying an additional 274 shares during the period. Logan Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $497,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BMY. Edmond DE Rothschild Holding S.A. boosted its position in shares of Bristol-Myers Squibb by 3.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 252,154 shares of the biopharmaceutical company’s stock worth $13,713,000 after buying an additional 7,551 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Bristol-Myers Squibb by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,131,359 shares of the biopharmaceutical company’s stock worth $279,044,000 after buying an additional 227,978 shares during the period. Nicholas Investment Partners LP acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth $1,161,000. Legal & General Group Plc boosted its position in shares of Bristol-Myers Squibb by 4.3% in the first quarter. Legal & General Group Plc now owns 8,213,428 shares of the biopharmaceutical company’s stock worth $446,664,000 after buying an additional 335,795 shares during the period. Finally, Columbia Asset Management boosted its position in shares of Bristol-Myers Squibb by 4.1% in the first quarter. Columbia Asset Management now owns 16,574 shares of the biopharmaceutical company’s stock worth $901,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors own 69.79% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE BMY) traded up 0.51% on Friday, hitting $56.88. 1,094,670 shares of the stock traded hands. Bristol-Myers Squibb Company has a 12-month low of $46.01 and a 12-month high of $61.30. The firm has a market cap of $93.28 billion, a P/E ratio of 20.77 and a beta of 1.17. The firm’s 50-day moving average is $55.82 and its 200 day moving average is $54.60.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the company earned $0.69 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb Company will post $2.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
A number of research analysts recently weighed in on the stock. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 price objective for the company in a report on Thursday. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday. BidaskClub cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Leerink Swann dropped their price objective on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $60.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $62.69.
In related news, Director Theodore R. Samuels II purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.
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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