Denver Investment Advisors LLC Cuts Position in Bristol-Myers Squibb Company (BMY)
Denver Investment Advisors LLC lowered its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 11.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 90,519 shares of the biopharmaceutical company’s stock after selling 11,678 shares during the period. Denver Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $4,922,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Swiss National Bank boosted its stake in shares of Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock worth $322,020,000 after buying an additional 1,267,900 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $38,890,000. Canada Pension Plan Investment Board boosted its stake in shares of Bristol-Myers Squibb by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,362,609 shares of the biopharmaceutical company’s stock worth $182,859,000 after buying an additional 646,000 shares during the period. Mizuho Securities USA Inc. acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $20,383,000. Finally, Polaris Greystone Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $15,109,000. Hedge funds and other institutional investors own 68.78% of the company’s stock.
Bristol-Myers Squibb Company (BMY) traded up 0.50% during trading on Monday, reaching $58.66. 775,030 shares of the company’s stock traded hands. The company has a 50 day moving average of $56.20 and a 200 day moving average of $55.23. Bristol-Myers Squibb Company has a one year low of $46.01 and a one year high of $60.45. The firm has a market cap of $96.20 billion, a price-to-earnings ratio of 21.42 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 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business 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 declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
A number of analysts have recently commented on BMY shares. BMO Capital Markets cut shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a report on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and set a $64.00 target price on shares of Bristol-Myers Squibb in a report on Monday, June 5th. Piper Jaffray Companies set a $60.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, July 27th. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 target price on the stock in a report on Monday, June 5th. Finally, BidaskClub cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $62.31.
In related news, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was bought at an average price of $55.94 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.
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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