Saybrook Capital NC Holds Stake in Bristol-Myers Squibb Co. (BMY)
Saybrook Capital NC maintained its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, Holdings Channel reports. The fund owned 8,800 shares of the biopharmaceutical company’s stock at the end of the second quarter. Saybrook Capital NC’s holdings in Bristol-Myers Squibb were worth $647,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Jolley Asset Management LLC boosted its position in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol-Myers Squibb during the second quarter worth about $163,000. Solaris Asset Management LLC boosted its position in Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares during the last quarter. Finally, Madrona Financial Services LLC acquired a new position in Bristol-Myers Squibb during the second quarter worth about $200,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.83% during mid-day trading on Wednesday, hitting $56.02. The stock had a trading volume of 9,230,885 shares. Bristol-Myers Squibb Co. has a 52-week low of $55.02 and a 52-week high of $77.12. The firm has a market cap of $93.60 billion, a PE ratio of 32.76 and a beta of 0.61. The firm has a 50 day moving average price of $59.58 and a 200 day moving average price of $67.67.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 87.36%.
A number of research firms recently issued reports on BMY. Morgan Stanley cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price objective for the company. in a report on Friday, August 5th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Finally, Barclays PLC decreased their target price on Bristol-Myers Squibb from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $69.64.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the sale, the director now directly owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% 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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