Noesis Capital Mangement Corp Decreases Position in Bristol-Myers Squibb Co (NYSE:BMY)

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Noesis Capital Mangement Corp cut its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,893 shares of the biopharmaceutical company’s stock after selling 482 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Bristol-Myers Squibb were worth $222,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. James Investment Research Inc. raised its position in shares of Bristol-Myers Squibb by 36.5% during the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 219 shares during the period. Lowe Brockenbrough & Co. Inc. raised its position in shares of Bristol-Myers Squibb by 0.5% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 43,384 shares of the biopharmaceutical company’s stock valued at $2,070,000 after buying an additional 220 shares during the period. Squar Milner Financial Services LLC raised its position in shares of Bristol-Myers Squibb by 5.6% during the 1st quarter. Squar Milner Financial Services LLC now owns 4,209 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 223 shares during the period. Clear Harbor Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 2.4% during the 1st quarter. Clear Harbor Asset Management LLC now owns 9,637 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 229 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Bristol-Myers Squibb by 1.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,750 shares of the biopharmaceutical company’s stock valued at $1,085,000 after buying an additional 235 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on BMY shares. Barclays raised shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $53.00 to $55.00 in a research report on Friday, May 3rd. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research report on Monday, May 20th. UBS Group reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. JPMorgan Chase & Co. started coverage on shares of Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price target on the stock. Finally, ValuEngine lowered shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $55.88.

Bristol-Myers Squibb stock traded down $0.10 during trading on Thursday, hitting $47.67. The company had a trading volume of 2,059,785 shares, compared to its average volume of 14,592,883. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $63.69. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company’s 50 day simple moving average is $45.49 and its 200-day simple moving average is $47.43. The stock has a market cap of $77.63 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The firm had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.

In related news, Director Robert J. Bertolini bought 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the acquisition, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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