Great Lakes Advisors LLC Sells 1,435 Shares of Bristol-Myers Squibb (NYSE:BMY)

Defense World · Aug 10, 2022 19:41

Great Lakes Advisors LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 28.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,623 shares of the biopharmaceutical company's stock after selling 1,435 shares during the quarter. Great Lakes Advisors LLC's holdings in Bristol-Myers Squibb were worth $265,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. Mizuho Securities Co. Ltd. grew its position in shares of Bristol-Myers Squibb by 239.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 239 shares during the last quarter. Spectrum Management Group LLC grew its position in shares of Bristol-Myers Squibb by 113.1% in the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 181 shares during the last quarter. Nauset Wealth Management. LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Conrad Siegel Investment Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $28,000. Finally, Steward Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $29,000. 73.07% of the stock is currently owned by institutional investors.

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Insider Activity at Bristol-Myers Squibb

In related news, EVP Sandra Leung sold 65,000 shares of the company's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares in the company, valued at $23,113,076.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Giovanni Caforio sold 30,000 shares of the company's stock in a transaction on Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the sale, the chief executive officer now owns 551,104 shares in the company, valued at $40,803,740.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sandra Leung sold 65,000 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $74.89, for a total value of $4,867,850.00. Following the sale, the executive vice president now directly owns 308,627 shares of the company's stock, valued at approximately $23,113,076.03. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 1.6 %

BMY stock opened at $74.96 on Wednesday. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $80.59. The business has a fifty day moving average price of $74.94 and a 200-day moving average price of $72.99. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market capitalization of $160.06 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.53 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.50 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 7.53 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 71.76%.

Analyst Ratings Changes

BMY has been the topic of several research reports. Truist Financial lifted their price target on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Atlantic Securities lifted their price target on Bristol-Myers Squibb from $82.00 to $83.00 and gave the company an "overweight" rating in a research report on Thursday, July 28th. Raymond James lowered Bristol-Myers Squibb from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $75.57.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; 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; and Orencia for adult patients with active RA and psoriatic arthritis.

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