MetLife Investment Management LLC lessened its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 533,271 shares of the biopharmaceutical company’s stock after selling 15,524 shares during the period. MetLife Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $34,103,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BMY. Abbrea Capital LLC boosted its stake in Bristol-Myers Squibb by 1.5% in the first quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock valued at $695,000 after buying an additional 150 shares in the last quarter. Westshore Wealth LLC raised its position in Bristol-Myers Squibb by 4.3% in the first quarter. Westshore Wealth LLC now owns 3,658 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 151 shares during the last quarter. Providence Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 0.5% in the first quarter. Providence Wealth Advisors LLC now owns 28,179 shares of the biopharmaceutical company’s stock valued at $1,952,000 after purchasing an additional 153 shares during the last quarter. Lebenthal Global Advisors LLC raised its position in Bristol-Myers Squibb by 1.5% in the first quarter. Lebenthal Global Advisors LLC now owns 10,533 shares of the biopharmaceutical company’s stock valued at $730,000 after purchasing an additional 156 shares during the last quarter. Finally, Bouchey Financial Group Ltd raised its position in Bristol-Myers Squibb by 5.4% in the first quarter. Bouchey Financial Group Ltd now owns 3,086 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Analysts Set New Price Targets
BMY has been the subject of several research reports. The Goldman Sachs Group dropped their target price on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Truist Financial restated a “buy” rating and set a $84.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. TD Cowen lowered their price objective on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, September 15th. Barclays lowered their price objective on Bristol-Myers Squibb from $60.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.59.
Bristol-Myers Squibb Stock Down 2.6 %
Shares of NYSE:BMY traded down $1.33 during mid-day trading on Monday, hitting $49.51. 10,063,618 shares of the company traded hands, compared to its average volume of 9,659,062. The stock has a market cap of $100.74 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.62 and a beta of 0.38. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. Bristol-Myers Squibb has a 12-month low of $48.78 and a 12-month high of $81.43. The stock has a 50-day moving average price of $55.60 and a two-hundred day moving average price of $60.85.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.24. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. Bristol-Myers Squibb’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 earnings per share. On average, equities research analysts forecast that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.
Bristol-Myers Squibb Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 4.61%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 57.87%.
Insider Buying and Selling
In related news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb Company Profile
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.
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