Sit Investment Associates Inc. maintained its position in Bristol-Myers Squibb Co (NYSE:BMY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,175 shares of the biopharmaceutical company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Bristol-Myers Squibb were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares in the last quarter. Keel Point LLC raised its position in Bristol-Myers Squibb by 0.3% in the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 18 shares in the last quarter. Staley Capital Advisers Inc. raised its position in Bristol-Myers Squibb by 0.3% in the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after buying an additional 24 shares in the last quarter. Shayne & CO. LLC raised its position in Bristol-Myers Squibb by 0.7% in the first quarter. Shayne & CO. LLC now owns 4,017 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 27 shares in the last quarter. Finally, Founders Capital Management LLC raised its position in Bristol-Myers Squibb by 0.7% in the first quarter. Founders Capital Management LLC now owns 4,097 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 29 shares in the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.

Shares of Bristol-Myers Squibb Co (BMY) traded up 1.60% on Tuesday, reaching $57.20. 2,549,744 shares of the company traded hands. The stock has a 50 day moving average of $55.55 and a 200 day moving average of $54.50. Bristol-Myers Squibb Co has a 52-week low of $46.01 and a 52-week high of $64.77. The stock has a market cap of $93.80 billion, a price-to-earnings ratio of 20.89 and a beta of 1.17.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 17.92% and a return on equity of 25.24%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb Co will post $2.97 earnings per share for the current year.

The company also recently declared 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. This represents a $1.56 annualized dividend and a yield of 2.77%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 56.73%.

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A number of research firms have issued reports on BMY. BMO Capital Markets reiterated an “underperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann cut their target price on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.33 target price for the company in a research report on Wednesday, July 26th. Finally, Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $63.33.

In other news, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% 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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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