Benchmark Capital Advisors Boosts Position in Bristol-Myers Squibb Co. (BMY)
Benchmark Capital Advisors boosted its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,034 shares of the biopharmaceutical company’s stock after buying an additional 10,534 shares during the period. Bristol-Myers Squibb comprises approximately 3.7% of Benchmark Capital Advisors’ holdings, making the stock its 3rd largest position. Benchmark Capital Advisors’ holdings in Bristol-Myers Squibb were worth $4,489,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in BMY. Bank of Montreal Can acquired a new position in Bristol-Myers Squibb during the second quarter valued at $154,732,000. Sustainable Growth Advisers LP boosted its position in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares in the last quarter. WestEnd Advisors LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at $94,956,000. Canada Pension Plan Investment Board boosted its position in Bristol-Myers Squibb by 628.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,323,821 shares of the biopharmaceutical company’s stock valued at $84,566,000 after buying an additional 1,142,200 shares in the last quarter. Finally, Montag & Caldwell LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at $82,999,000. Institutional investors own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) opened at 49.81 on Tuesday. The firm’s 50-day moving average price is $56.14 and its 200-day moving average price is $66.76. Bristol-Myers Squibb Co. has a 12 month low of $49.54 and a 12 month high of $77.12. The stock has a market capitalization of $83.23 billion, a P/E ratio of 29.13 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period last year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
Several research analysts have recently weighed in on BMY shares. Credit Suisse Group AG cut Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $86.00 to $63.00 in a research note on Sunday, August 7th. Morgan Stanley restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Leerink Swann restated a “buy” rating and issued a $69.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday. Jefferies Group reiterated a “hold” rating and set a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Two 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $69.31.
In other news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the sale, the director now directly owns 334,499 shares in the company, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.
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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