Whalerock Point Partners LLC Has $1.87 Million Stake in Bristol-Myers Squibb Company (BMY)
Whalerock Point Partners LLC trimmed its holdings in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,599 shares of the biopharmaceutical company’s stock after selling 2,942 shares during the period. Whalerock Point Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,872,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of BMY. Ameriprise Financial Inc. increased its stake in Bristol-Myers Squibb by 18.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after purchasing an additional 2,451,390 shares in the last quarter. Swiss National Bank increased its stake in Bristol-Myers Squibb by 27.2% in the 1st quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after purchasing an additional 1,267,900 shares in the last quarter. State Street Corp increased its stake in Bristol-Myers Squibb by 1.8% in the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after purchasing an additional 1,223,457 shares in the last quarter. Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 5.4% in the 2nd quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock valued at $1,288,179,000 after purchasing an additional 1,184,652 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in Bristol-Myers Squibb by 5,377.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,189,789 shares of the biopharmaceutical company’s stock valued at $21,353,000 after purchasing an additional 1,168,066 shares in the last quarter. 69.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. SunTrust Banks, Inc. raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 price objective (up from $58.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Finally, BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.93.
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In related news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at $61.87 on Friday. Bristol-Myers Squibb Company has a fifty-two week low of $46.01 and a fifty-two week high of $66.10. The stock has a market capitalization of $99,953.27, a price-to-earnings ratio of 20.63, a PEG ratio of 2.41 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Bristol-Myers Squibb’s revenue was up 6.7% compared to the same quarter last year. research analysts expect that Bristol-Myers Squibb Company will post 2.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is currently 61.42%.
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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