Monarch Capital Management Inc. Decreases Holdings in Bristol-Myers Squibb Company (BMY)
Monarch Capital Management Inc. reduced its holdings in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,237 shares of the biopharmaceutical company’s stock after selling 625 shares during the quarter. Monarch Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,573,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Welch Investments LLC grew its stake in Bristol-Myers Squibb by 3.9% during the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth approximately $116,000. Blue Chip Partners Inc. grew its stake in Bristol-Myers Squibb by 0.8% during 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. American National Bank grew its stake in Bristol-Myers Squibb by 11.7% during the second quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 225 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in Bristol-Myers Squibb by 29.6% during the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 504 shares during the period. Institutional investors own 68.88% of the company’s stock.
BMY has been the subject of several research reports. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price for the company. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $62.20.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Theodore R. Samuels II acquired 6,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Company insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company (BMY) opened at 63.36 on Friday. Bristol-Myers Squibb Company has a 1-year low of $46.01 and a 1-year high of $63.55. The company has a market capitalization of $103.91 billion, a P/E ratio of 23.14 and a beta of 1.18. The firm’s 50-day moving average is $58.94 and its 200-day moving average is $56.02.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion for 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%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. Equities research analysts predict that Bristol-Myers Squibb Company will post $2.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.46%. Bristol-Myers Squibb’s payout ratio is 56.73%.
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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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