Municipal Employees Retirement System of Michigan Sells 11,580 Shares of Bristol-Myers Squibb Co (BMY)
Municipal Employees Retirement System of Michigan lowered its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 19.8% during the 3rd quarter, Holdings Channel reports. The firm owned 47,050 shares of the biopharmaceutical company’s stock after selling 11,580 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Bristol-Myers Squibb were worth $2,999,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Tradewinds Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 34.6% in 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 in the last quarter. Atlantic Trust LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $111,000. Blue Chip Partners Inc. increased its position in shares of Bristol-Myers Squibb by 0.7% in 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 in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $123,000. Finally, Acrospire Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 633.3% in 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 in the last quarter. 69.67% of the stock is currently owned by institutional investors.
Shares of 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. The company has a market cap of $102,801.13, a P/E ratio of 21.22, a P/E/G ratio of 2.30 and a beta of 1.18. Bristol-Myers Squibb Co has a fifty-two week low of $46.01 and a fifty-two week high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The business 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%. Bristol-Myers Squibb’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. analysts anticipate that Bristol-Myers Squibb Co will post 2.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Bristol-Myers Squibb’s payout ratio is 62.99%.
In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the sale, the executive vice president now directly owns 9,251 shares in the company, valued at $585,033.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore R. Samuels II bought 4,000 shares of Bristol-Myers Squibb stock in a transaction on Friday, December 15th. The stock was acquired at an average price of $62.30 per share, with a total value of $249,200.00. Following the completion of the purchase, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is owned by insiders.
Several research analysts have recently weighed in on BMY shares. Citigroup set a $72.00 target price on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Jefferies Group restated a “buy” rating and set a $72.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, September 27th. Vetr upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.50 price target for the company in a report on Wednesday, September 27th. UBS Group restated a “buy” rating and set a $72.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a report on Friday, October 6th. Finally, SunTrust Banks upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $65.05.
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Bristol-Myers Squibb 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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