Sawgrass Asset Management LLC lowered its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,740 shares of the biopharmaceutical company’s stock after selling 25 shares during the period. Sawgrass Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,035,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the period. Bank of Montreal Can purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $154,732,000. Sustainable Growth Advisers LP raised its position in shares of Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares during the period. Jarislowsky Fraser Ltd raised its position in shares of Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares during the period. Finally, WestEnd Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at about $94,956,000. 68.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.82% on Monday, hitting $56.51. 8,724,213 shares of the company’s stock were exchanged. Bristol-Myers Squibb Co. has a 12 month low of $49.03 and a 12 month high of $77.12. The firm has a market cap of $94.44 billion, a P/E ratio of 28.27 and a beta of 0.90. The stock’s 50 day moving average is $52.72 and its 200 day moving average is $62.87.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.12. Bristol-Myers Squibb had a net margin of 18.54% and a return on equity of 28.98%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm posted $0.39 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities analysts predict that Bristol-Myers Squibb Co. will post $2.85 earnings per share for the current year.
BMY has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “hold” rating and issued a $58.00 target price (up from $54.00) on shares of Bristol-Myers Squibb in a research note on Monday, October 31st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $86.00 to $68.00 in a research note on Friday, August 5th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $58.77 target price for the company. in a research note on Monday, November 7th. Finally, Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and reduced their target price for the stock from $80.00 to $70.00 in a research note on Thursday, August 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.51.
In related news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the sale, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.
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.