Socorro Asset Management LP Boosts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Socorro Asset Management LP raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 6.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 102,228 shares of the biopharmaceutical company’s stock after purchasing an additional 6,337 shares during the period. Bristol-Myers Squibb accounts for about 3.1% of Socorro Asset Management LP’s portfolio, making the stock its 17th largest position. Socorro Asset Management LP’s holdings in Bristol-Myers Squibb were worth $7,085,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $26,000. GoalVest Advisory LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $29,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $31,000. Live Oak Investment Partners purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $33,000. Finally, First Personal Financial Services grew its position in shares of Bristol-Myers Squibb by 67.8% in the 1st quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at approximately $402,545.76. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.43 during trading hours on Tuesday, hitting $60.38. The stock had a trading volume of 5,220,381 shares, compared to its average volume of 8,738,078. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.28 and a current ratio of 1.39. The firm has a 50-day moving average price of $61.96 and a 200 day moving average price of $65.40. Bristol-Myers Squibb has a fifty-two week low of $59.45 and a fifty-two week high of $81.43. The firm has a market capitalization of $126.14 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.58 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Thursday, July 6th. Bristol-Myers Squibb’s payout ratio is 60.64%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Cantor Fitzgerald dropped their target price on shares of Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 19th. Wells Fargo & Company dropped their target price on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. Credit Suisse Group dropped their target price on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. Finally, Barclays dropped their target price on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.14.

Check Out Our Latest Analysis on BMY

Bristol-Myers Squibb Company 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.

Featured Articles

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.