Westfield Capital Management Co. LP Lowers Position in Bristol-Myers Squibb Company (BMY)
Westfield Capital Management Co. LP reduced its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 52.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,150,962 shares of the biopharmaceutical company’s stock after selling 1,260,443 shares during the period. Westfield Capital Management Co. LP’s holdings in Bristol-Myers Squibb were worth $62,589,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dodge & Cox bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $1,316,815,000. Norges Bank bought a new position in Bristol-Myers Squibb during the fourth quarter valued at about $770,318,000. Ameriprise Financial Inc. boosted its position in Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares in the last quarter. Swiss National Bank boosted its position in Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after buying an additional 1,267,900 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Bristol-Myers Squibb during the first quarter valued at about $38,890,000. 69.79% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Company (BMY) opened at 56.85 on Wednesday. The stock has a market capitalization of $93.23 billion, a PE ratio of 20.76 and a beta of 1.17. The stock’s 50 day moving average is $55.66 and its 200 day moving average is $54.52. Bristol-Myers Squibb Company has a 12-month low of $46.01 and a 12-month high of $63.65.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts forecast that Bristol-Myers Squibb Company will post $2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 56.73%.
BMY has been the topic of several research reports. BMO Capital Markets cut Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a report on Wednesday, May 3rd. Robert W. Baird initiated coverage on Bristol-Myers Squibb in a report on Tuesday, April 25th. They issued an “outperform” rating on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a report on Monday, June 5th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price target on the stock in a report on Monday, June 5th. Finally, BidaskClub cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.33.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price 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 in the company, valued at $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.
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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