Proxima Capital Management LLC Purchases New Stake in Bristol-Myers Squibb Company (BMY)
Proxima Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,631,000. Bristol-Myers Squibb accounts for 1.0% of Proxima Capital Management LLC’s portfolio, making the stock its 28th largest position.
Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,316,815,000. Jennison Associates LLC raised its position in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Jennison Associates LLC now owns 21,927,898 shares of the biopharmaceutical company’s stock valued at $1,192,439,000 after buying an additional 178,436 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of 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 during the last quarter. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $770,318,000. Finally, Legal & General Group Plc raised its position in shares of Bristol-Myers Squibb by 4.3% in the first quarter. Legal & General Group Plc now owns 8,213,428 shares of the biopharmaceutical company’s stock valued at $446,664,000 after buying an additional 335,795 shares during the last quarter. 69.79% of the stock is owned by institutional investors and hedge funds.
Shares of Bristol-Myers Squibb Company (NYSE BMY) traded down 0.40% during midday trading on Thursday, hitting $57.17. 1,363,627 shares of the stock were exchanged. The firm has a 50 day moving average of $55.81 and a 200-day moving average of $54.58. Bristol-Myers Squibb Company has a one year low of $46.01 and a one year high of $61.30. The company has a market cap of $93.75 billion, a price-to-earnings ratio of 20.88 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb Company will post $2.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.
Several brokerages recently commented on BMY. BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Deutsche Bank AG set a $55.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, July 17th. BMO Capital Markets lowered shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Finally, Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price objective for the company. in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $62.67.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate 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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