Mengis Capital Management Inc. Has $7.66 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Mengis Capital Management Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,055 shares of the biopharmaceutical company’s stock after selling 1,414 shares during the quarter. Bristol-Myers Squibb accounts for 1.6% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Mengis Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $7,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $26,000. Northwest Capital Management Inc bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $26,000. Coppell Advisory Solutions Corp. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $31,000. Coppell Advisory Solutions LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at $28,000. Finally, Live Oak Investment Partners purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $33,000. 74.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher S. Boerner bought 3,071 shares of the stock in a transaction dated Tuesday, November 28th. The stock was bought at an average cost of $48.86 per share, with a total value of $150,049.06. Following the completion of the acquisition, the chief executive officer now owns 79,384 shares of the company’s stock, valued at $3,878,702.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Theodore R. Samuels II acquired 8,500 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $49.81 per share, with a total value of $423,385.00. Following the purchase, the director now owns 35,500 shares of the company’s stock, valued at $1,768,255. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher S. Boerner acquired 3,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average cost of $48.86 per share, with a total value of $150,049.06. Following the completion of the acquisition, the chief executive officer now owns 79,384 shares in the company, valued at approximately $3,878,702.24. The disclosure for this purchase can be found here. Insiders have bought 13,571 shares of company stock worth $672,994 over the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

BMY has been the subject of several research reports. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. UBS Group reissued a “neutral” rating and issued a $60.00 price target (down previously from $70.00) on shares of Bristol-Myers Squibb in a report on Friday, October 20th. TheStreet downgraded Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Cantor Fitzgerald downgraded shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $55.00 in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.17.

View Our Latest Report on BMY

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.06 on Monday, hitting $49.75. The company’s stock had a trading volume of 14,942,756 shares, compared to its average volume of 16,096,083. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average price of $50.52 and a 200-day moving average price of $54.66. The company has a market capitalization of $101.23 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.53 and a beta of 0.38. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $73.47.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.52 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its board has initiated a share repurchase plan on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, January 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Bristol-Myers Squibb Profile

(Free Report)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

See Also

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

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