Artemis Investment Management LLP cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 889,412 shares of the biopharmaceutical company’s stock after selling 111,070 shares during the quarter. Artemis Investment Management LLP’s holdings in Bristol-Myers Squibb were worth $56,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Hedeker Wealth LLC raised its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Hedeker Wealth LLC now owns 35,765 shares of the biopharmaceutical company’s stock valued at $2,218,000 after acquiring an additional 153 shares during the period. Beacon Financial Advisory LLC raised its holdings in shares of Bristol-Myers Squibb by 2.1% during the 4th quarter. Beacon Financial Advisory LLC now owns 7,730 shares of the biopharmaceutical company’s stock valued at $479,000 after buying an additional 161 shares during the period. Prio Wealth Limited Partnership boosted its holdings in Bristol-Myers Squibb by 0.3% in the 4th quarter. Prio Wealth Limited Partnership now owns 64,770 shares of the biopharmaceutical company’s stock worth $4,018,000 after acquiring an additional 168 shares during the period. Bridgeworth LLC grew its position in Bristol-Myers Squibb by 4.4% in the fourth quarter. Bridgeworth LLC now owns 4,218 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 178 shares in the last quarter. Finally, OLD Dominion Capital Management Inc. lifted its position in shares of Bristol-Myers Squibb by 2.1% during the fourth quarter. OLD Dominion Capital Management Inc. now owns 8,914 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 182 shares in the last quarter. 72.41% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $62.20, for a total value of $1,555,000.00. Following the transaction, the chief executive officer now directly owns 528,980 shares of the company’s stock, valued at $32,902,556. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Wednesday, April 28th. The biopharmaceutical company reported $1.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.08). The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. Bristol-Myers Squibb’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 EPS. On average, analysts anticipate that Bristol-Myers Squibb will post 6.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 31st. Bristol-Myers Squibb’s dividend payout ratio is presently 41.79%.
A number of research analysts have recently issued reports on the stock. Truist upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, April 13th. Truist Financial upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, April 13th. Truist Securities upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $74.00 in a research report on Monday, April 19th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, April 6th. Finally, TheStreet upgraded Bristol-Myers Squibb from a “c” rating to a “b” rating in a research report on Thursday, April 29th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Buy” and an average price target of $73.81.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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