Truist Financial Corp lessened its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,551,457 shares of the biopharmaceutical company's stock after selling 105,706 shares during the period. Truist Financial Corp owned approximately 0.08% of Bristol-Myers Squibb worth $64,432,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $27,000. LGT Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 76.41% of the company's stock.
Shares of NYSE BMY opened at $52.91 on Wednesday. The company has a market cap of $107.25 billion, a PE ratio of -17.07, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $58.06. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a 50-day simple moving average of $48.91 and a 200-day simple moving average of $46.28.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analysts' expectations of $11.54 billion. During the same period last year, the company earned $1.75 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. Bristol-Myers Squibb's dividend payout ratio is presently -77.42%.
A number of brokerages have recently issued reports on BMY. Barclays increased their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an "underweight" rating in a report on Thursday, August 22nd. BMO Capital Markets reiterated a "market perform" rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating for the company in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $55.00.
View Our Latest Research Report on BMY
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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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