Trade Report: The Legacy Capital Partners Inc. Reduced the position of Bristol-Myers Squibb Co. (BMY)

The Legacy Capital Partners Inc. Reduced the position of Bristol-Myers Squibb Co. (BMY)

Legacy Capital Partners Inc. cut its stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 8,482 shares of the biopharmaceutical company’s stock after selling 368 shares during the period. Legacy Capital Partners Inc.’s holdings in Bristol-Myers Squibb were worth $624,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Trust N.A. raised its position in shares of Bristol-Myers Squibb by 45.3% in the first quarter. Raymond James Trust N.A. now owns 125,900 shares of the biopharmaceutical company’s stock valued at $8,043,000 after buying an additional 39,279 shares during the period. Stokes & Hubbell Capital Management LLC raised its position in shares of Bristol-Myers Squibb by 12.7% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 9,282 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 1,049 shares during the period. Windward Capital Management Co. CA raised its position in shares of Bristol-Myers Squibb by 1.7% in the first quarter. Windward Capital Management Co. CA now owns 15,534 shares of the biopharmaceutical company’s stock valued at $992,000 after buying an additional 258 shares during the period. Murphy Pohlad Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 13.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 4,993 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 590 shares during the period. Finally, Bridges Investment Management Inc. raised its position in shares of Bristol-Myers Squibb by 3.5% in the first quarter. Bridges Investment Management Inc. now owns 12,153 shares of the biopharmaceutical company’s stock valued at $809,000 after buying an additional 414 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) opened at 55.43 on Friday. The company’s 50-day moving average price is $56.41 and its 200-day moving average price is $66.79. Bristol-Myers Squibb Co. has a one year low of $53.56 and a one year high of $77.12. The stock has a market cap of $92.62 billion, a PE ratio of 32.42 and a beta of 0.74.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 87.36%.

BMY has been the topic of several recent analyst reports. Jefferies Group boosted their price target on Bristol-Myers Squibb from $76.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.79 target price on the stock in a research report on Monday, June 27th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 6th. Finally, Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $69.61.

In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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