Paragon Capital Management LLC Decreases Stake in Bristol-Myers Squibb Company (BMY)
Paragon Capital Management LLC reduced its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,115 shares of the biopharmaceutical company’s stock after selling 134 shares during the period. Paragon Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $278,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Bristol-Myers Squibb by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 124,080 shares of the biopharmaceutical company’s stock valued at $6,747,000 after buying an additional 28,277 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of Bristol-Myers Squibb by 60.1% in the first quarter. Mosaic Family Wealth LLC now owns 14,123 shares of the biopharmaceutical company’s stock valued at $769,000 after buying an additional 5,300 shares during the last quarter. Peddock Capital Advisors LLC raised its position in shares of Bristol-Myers Squibb by 1.4% in the first quarter. Peddock Capital Advisors LLC now owns 6,398 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 90 shares during the last quarter. Pettyjohn Wood & White Inc. raised its position in shares of Bristol-Myers Squibb by 0.5% in the first quarter. Pettyjohn Wood & White Inc. now owns 7,825 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 40 shares during the last quarter. Finally, Pax World Management LLC raised its position in shares of Bristol-Myers Squibb by 7.3% in the first quarter. Pax World Management LLC now owns 11,796 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 800 shares during the last quarter. Institutional investors own 68.78% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE BMY) traded down 0.20% during mid-day trading on Tuesday, reaching $58.46. The company’s stock had a trading volume of 680,729 shares. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45. The company has a 50 day moving average of $56.20 and a 200-day moving average of $55.23. The firm has a market capitalization of $95.87 billion, a P/E ratio of 21.35 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb Company will post $2.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a yield of 2.66%. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
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Several brokerages have recently commented on BMY. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 target price (up previously from $63.00) on shares of Bristol-Myers Squibb in a research report on Thursday, August 24th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price for the company. in a research report on Tuesday, August 22nd. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Cowen and Company set a $65.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, August 14th. Finally, BidaskClub upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $62.31.
In other news, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by insiders.
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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