Carnegie Capital Asset Management LLC Buys 20,400 Shares of Bristol-Myers Squibb Co (BMY)
Carnegie Capital Asset Management LLC lifted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 19.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,114 shares of the biopharmaceutical company’s stock after buying an additional 20,400 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $7,379,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth about $101,000. Institutional & Family Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth about $106,000. Centerpoint Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 373.1% in the first quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,399 shares during the last quarter. CSat Investment Advisory L.P. purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $113,000. Finally, Landaas & Co. WI ADV purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth about $131,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.
A number of equities analysts have issued reports on the company. SunTrust Banks reiterated a “buy” rating and set a $67.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. BMO Capital Markets reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Sunday, July 22nd. Jefferies Financial Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Sunday, July 15th. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $61.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.89.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. equities research analysts anticipate that Bristol-Myers Squibb Co will post 3.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, October 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. Bristol-Myers Squibb’s payout ratio is currently 53.16%.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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