Los Angeles Capital Management & Equity Research Inc. Trims Stake in Bristol-Myers Squibb Co (BMY)
Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 13.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,239,902 shares of the biopharmaceutical company’s stock after selling 194,908 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Bristol-Myers Squibb were worth $79,031,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. Tradewinds Capital Management LLC increased its stake in shares of Bristol-Myers Squibb by 34.6% during the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 500 shares during the period. Atlantic Trust LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $111,000. Blue Chip Partners Inc. increased its stake in shares of Bristol-Myers Squibb by 0.7% during the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 15 shares during the period. BDO Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth about $123,000. Finally, Acrospire Investment Management LLC increased its stake in shares of Bristol-Myers Squibb by 633.3% during the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 1,900 shares during the period. 69.67% of the stock is owned by institutional investors and hedge funds.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 4,000 shares of Bristol-Myers Squibb stock in a transaction on Friday, December 15th. The shares were bought at an average price of $62.30 per share, with a total value of $249,200.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sandra Leung sold 156,582 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 584,373 shares in the company, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on BMY. Barclays boosted their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a research note on Monday, October 16th. BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Thursday, October 12th. Leerink Swann boosted their price target on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Finally, Citigroup boosted their price target on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $65.05.
Bristol-Myers Squibb Co (NYSE:BMY) opened at $62.81 on Friday. 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. The firm has a market cap of $102,801.13, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last issued its 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). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. equities analysts anticipate that Bristol-Myers Squibb Co will post 2.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a dividend of $0.40 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.99%.
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About Bristol-Myers Squibb
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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