Lombard Odier Asset Management Switzerland SA Sells 215,121 Shares of Bristol-Myers Squibb (NYSE:BMY)
Lombard Odier Asset Management Switzerland SA cut its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 91.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,141 shares of the biopharmaceutical company’s stock after selling 215,121 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bristol-Myers Squibb were worth $1,224,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Cerity Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 13.0% in the 2nd quarter. Cerity Partners LLC now owns 614,229 shares of the biopharmaceutical company’s stock valued at $39,280,000 after purchasing an additional 70,722 shares during the last quarter. Glenview Trust Co lifted its stake in shares of Bristol-Myers Squibb by 1.0% in the 2nd quarter. Glenview Trust Co now owns 109,447 shares of the biopharmaceutical company’s stock valued at $6,999,000 after purchasing an additional 1,082 shares during the last quarter. Fund Management at Engine No. 1 LLC lifted its stake in shares of Bristol-Myers Squibb by 6.1% in the 2nd quarter. Fund Management at Engine No. 1 LLC now owns 27,351 shares of the biopharmaceutical company’s stock valued at $1,749,000 after purchasing an additional 1,563 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $3,043,000. Finally, SageView Advisory Group LLC raised its holdings in shares of Bristol-Myers Squibb by 21.8% in the second quarter. SageView Advisory Group LLC now owns 17,816 shares of the biopharmaceutical company’s stock worth $1,139,000 after buying an additional 3,194 shares during the period. 74.98% of the stock is owned by institutional investors.
Insider Transactions at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 8,500 shares of the stock in a transaction dated Monday, November 20th. The stock was purchased at an average price of $49.81 per share, with a total value of $423,385.00. Following the transaction, the director now directly owns 35,500 shares of the company’s stock, valued at $1,768,255. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Theodore R. Samuels II purchased 8,500 shares of the stock in a transaction on Monday, November 20th. The stock was bought at an average price of $49.81 per share, with a total value of $423,385.00. Following the transaction, the director now owns 35,500 shares in the company, valued at approximately $1,768,255. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher S. Boerner purchased 3,071 shares of the stock in a transaction on Tuesday, November 28th. The shares were purchased at an average cost of $48.86 per share, with a total value of $150,049.06. Following the transaction, the chief executive officer now owns 79,384 shares in the company, valued at approximately $3,878,702.24. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Stock Up 1.5 %
Shares of NYSE:BMY traded up $0.72 on Friday, reaching $50.10. The company had a trading volume of 12,806,403 shares, compared to its average volume of 13,621,362. Bristol-Myers Squibb has a 52-week low of $48.25 and a 52-week high of $81.42. The firm’s 50 day simple moving average is $53.57 and its 200-day simple moving average is $59.64. The firm has a market capitalization of $101.94 billion, a PE ratio of 12.72, a PEG ratio of 1.58 and a beta of 0.34. 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 (NYSE:BMY – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.24. The firm had revenue of $10.97 billion during 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%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.99 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.
Bristol-Myers Squibb Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were given a $0.57 dividend. The ex-dividend date was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.55%. Bristol-Myers Squibb’s payout ratio is 57.87%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on BMY shares. Morgan Stanley reduced their price target on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating on the stock in a report on Friday, October 27th. TD Cowen reduced their price target on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday, September 15th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. UBS Group restated a “neutral” rating and set a $60.00 price objective (down from $70.00) on shares of Bristol-Myers Squibb in a report on Friday, October 20th. Finally, Daiwa Capital Markets downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $54.00 in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $63.59.
Bristol-Myers Squibb Profile (Free Report)
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.
Further Reading
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