Edmond DE Rothschild Holding S.A. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Financial News Live · Aug 12, 2022 23:52

Edmond DE Rothschild Holding S.A. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 464,188 shares of the biopharmaceutical company's stock after selling 6,867 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Bristol-Myers Squibb were worth $33,900,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Cahaba Wealth Management Inc. raised its position in Bristol-Myers Squibb by 2.5% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company's stock valued at $405,000 after buying an additional 132 shares during the last quarter. MV Capital Management Inc. raised its position in Bristol-Myers Squibb by 10.7% in the 1st quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company's stock valued at $102,000 after buying an additional 135 shares during the last quarter. Sanders Morris Harris LLC raised its position in Bristol-Myers Squibb by 0.3% in the 1st quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company's stock valued at $2,958,000 after buying an additional 137 shares during the last quarter. Bernardo Wealth Planning LLC raised its position in Bristol-Myers Squibb by 4.3% in the 1st quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company's stock valued at $247,000 after buying an additional 139 shares during the last quarter. Finally, Stiles Financial Services Inc raised its position in Bristol-Myers Squibb by 2.3% in the 1st quarter. Stiles Financial Services Inc now owns 6,368 shares of the biopharmaceutical company's stock valued at $465,000 after buying an additional 141 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BMY shares. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 17th. Truist Financial boosted their price target on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. 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. UBS Group boosted their price target on Bristol-Myers Squibb to $73.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Finally, Bank of America boosted their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $75.57.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.45 during midday trading on Friday, hitting $74.91. 93,928 shares of the company's stock were exchanged, compared to its average volume of 9,090,937. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The company's 50 day moving average price is $74.93 and its 200 day moving average price is $73.08. The firm has a market capitalization of $159.95 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were paid a $0.54 dividend. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 2.88%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 71.76%.

Insider Activity at Bristol-Myers Squibb

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

Bristol-Myers Squibb Company Profile

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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.