Sheets Smith Wealth Management Has $901,000 Position in Bristol-Myers Squibb Company (BMY)
Sheets Smith Wealth Management continued to hold its stake in Bristol-Myers Squibb Company (NYSE:BMY) during the second quarter, Holdings Channel reports. The institutional investor owned 16,179 shares of the biopharmaceutical company’s stock at the end of the second quarter. Sheets Smith Wealth Management’s holdings in Bristol-Myers Squibb were worth $901,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Blue Chip Partners Inc. increased 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 during the period. Keel Point LLC increased 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 during the period. Staley Capital Advisers Inc. increased 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 during the period. Shayne & CO. LLC increased 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 during the period. Finally, Founders Capital Management LLC increased 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 during the period. Institutional investors own 69.79% of the company’s stock.
Bristol-Myers Squibb Company (BMY) traded up 0.25% during midday trading on Friday, reaching $56.73. 4,060,530 shares of the company’s stock were exchanged. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $60.86. The firm has a 50-day moving average price of $55.80 and a 200 day moving average price of $54.64. The company has a market cap of $93.03 billion, a price-to-earnings ratio of 20.72 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. Analysts anticipate that Bristol-Myers Squibb Company will post $2.97 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.75%. Bristol-Myers Squibb’s dividend payout ratio is presently 56.73%.
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BMY has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday, April 23rd. Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $59.88 price target on the stock. in a research note on Monday, April 24th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a research note 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 research note on Monday, June 5th. Finally, BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, ten have assigned 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 has a consensus rating of “Buy” and a consensus target price of $62.12.
In other news, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by 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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