Kempner Capital Management Inc. Sells 12,404 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kempner Capital Management Inc. lessened its stake in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 25.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,345 shares of the biopharmaceutical company’s stock after selling 12,404 shares during the quarter. Kempner Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horan Securities Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $29,000. Steward Financial Group LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $29,000. Guardian Wealth Management Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $32,000. Consolidated Planning Corp acquired a new position in Bristol-Myers Squibb in the third quarter valued at about $34,000. Finally, Leverty Financial Group LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

BMY has been the subject of several recent research reports. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 17th. Truist Financial upped their price objective on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. StockNews.com assumed coverage on Bristol-Myers Squibb in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Morgan Stanley reduced their price target on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating for the company in a research report on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.27.

In other news, EVP Sandra Leung sold 65,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the transaction, the executive vice president now owns 308,627 shares in the company, valued at $23,113,076.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

NYSE:BMY opened at $76.55 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $75.93 and its two-hundred day moving average price is $69.82. The firm has a market capitalization of $162.98 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.62 and a beta of 0.49. Bristol-Myers Squibb has a 12-month low of $53.22 and a 12-month high of $78.61.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.04. The firm had revenue of $11.65 billion for the quarter, compared to analyst estimates of $11.34 billion. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 7.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be paid a $0.54 dividend. The ex-dividend date is Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 2.82%. Bristol-Myers Squibb’s dividend payout ratio is 76.60%.

Bristol-Myers Squibb Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

Further Reading

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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