Searle & CO. Buys Shares of 66,200 Bristol-Myers Squibb Co. (BMY)
Searle & CO. purchased a new stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 66,200 shares of the biopharmaceutical company’s stock, valued at approximately $3,655,000. Bristol-Myers Squibb accounts for 3.2% of Searle & CO.’s investment portfolio, making the stock its 3rd largest position.
Several other institutional investors have also recently made changes to their positions in BMY. Baxter Bros Inc. bought a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $895,000. Howland Capital Management LLC boosted its stake in Bristol-Myers Squibb by 3.2% in the second quarter. Howland Capital Management LLC now owns 38,272 shares of the biopharmaceutical company’s stock valued at $2,815,000 after buying an additional 1,178 shares in the last quarter. Park National Corp OH boosted its stake in Bristol-Myers Squibb by 0.6% in the second quarter. Park National Corp OH now owns 56,806 shares of the biopharmaceutical company’s stock valued at $4,178,000 after buying an additional 356 shares in the last quarter. Cullinan Associates Inc. boosted its stake in Bristol-Myers Squibb by 17.8% in the second quarter. Cullinan Associates Inc. now owns 585,796 shares of the biopharmaceutical company’s stock valued at $43,085,000 after buying an additional 88,700 shares in the last quarter. Finally, Boltwood Capital Management boosted its stake in Bristol-Myers Squibb by 1.7% in the second quarter. Boltwood Capital Management now owns 15,805 shares of the biopharmaceutical company’s stock valued at $1,162,000 after buying an additional 265 shares in the last quarter. 68.84% of the stock is owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.27% during trading on Tuesday, hitting $56.36. 9,818,866 shares of the stock traded hands. Bristol-Myers Squibb Co. has a 12 month low of $49.03 and a 12 month high of $77.12. The company has a 50-day moving average price of $52.72 and a 200-day moving average price of $62.87. The stock has a market cap of $94.19 billion, a PE ratio of 28.19 and a beta of 0.90.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12. Bristol-Myers Squibb had a net margin of 18.54% and a return on equity of 28.98%. The business earned $4.83 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was up 21.0% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb Co. will post $2.85 EPS for the current year.
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Several research firms recently commented on BMY. Leerink Swann reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Bristol-Myers Squibb in a research report on Sunday, October 9th. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price target on the stock. in a research report on Friday, August 5th. Jefferies Group reissued a “hold” rating and set a $57.00 price target (down from $69.00) on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $67.51.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.
Bristol-Myers Squibb Company 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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