Private Advisor Group buys $11,840,448 stake in Bristol-Myers Squibb Co (BMY)

Bristol-Myers Squibb Co (BMY) : Private Advisor Group scooped up 18,114 additional shares in Bristol-Myers Squibb Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 196,359 shares of Bristol-Myers Squibb Co which is valued at $11,840,448.Bristol-Myers Squibb Co makes up approximately 0.47% of Private Advisor Group’s portfolio.

Other Hedge Funds, Including , Financial Counselors Inc boosted its stake in BMY in the latest quarter, The investment management firm added 34 additional shares and now holds a total of 111,677 shares of Bristol-Myers Squibb Co which is valued at $6,808,947. Bristol-Myers Squibb Co makes up approx 0.39% of Financial Counselors Inc’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in BMY by selling 5,497 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 274,103 shares of BMY which is valued at $20,960,656. Bristol-Myers Squibb Co makes up approx 2.09% of Tokio Marine Asset Management Co Ltd’s portfolio.Trust Co Of Virginia Va reduced its stake in BMY by selling 574 shares or 2.39% in the most recent quarter. The Hedge Fund company now holds 23,437 shares of BMY which is valued at $1,780,275. Bristol-Myers Squibb Co makes up approx 0.30% of Trust Co Of Virginia Va’s portfolio.

Bristol-Myers Squibb Co closed down -1.11 points or -1.87% at $58.3 with 2,10,07,446 shares getting traded on Wednesday. Post opening the session at $59.5, the shares hit an intraday low of $58.07 and an intraday high of $59.52 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Bristol-Myers Squibb Co reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.66. The company had revenue of $4881.00 million for the quarter, compared to analysts expectations of $4657.63 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

Investors should note that on Aug 3, 2016, Bristol-Myers Squibb Co announced a cash dividend of $0.3800. The company’s management has announced Oct 5, 2016 as the ex-dividend date and fixed the record date on Oct 7, 2016. The payable date has been fixed on Nov 1, 2016.

Many Wall Street Analysts have commented on Bristol-Myers Squibb Co. Bristol-Myers Squibb Co was Downgraded by Berenberg to ” Hold” on Aug 11, 2016. Credit Suisse Downgraded Bristol-Myers Squibb Co on Aug 8, 2016 to ” Neutral”, Price Target of the shares are set at $63.Shares were Reiterated by Deutsche Bank on Aug 8, 2016 to “Hold” and Lowered the Price Target to $ 62 from a previous price target of $68 .

Bristol-Myers Squibb Company (BMS) is engaged in the discovery development licensing manufacturing marketing distribution and sale of biopharmaceutical products across the world. The Company’s products are sold to wholesalers retail pharmacies hospitals government entities and the medical profession. The Company manufactures its products in the United States Puerto Rico and in six foreign countries. The Company promotes the use of its products directly to healthcare professionals and providers such as doctors nurse practitioners physician assistants pharmacists technologists hospitals Pharmacy Benefit Managers (PBMs) and Managed Care Organizations (MCOs). It also provides information about the use of its products to consumers in the United States through direct-to-consumer print radio television and digital advertising and promotion. In addition the Company holds rights to F001287 which is a preclinical small-molecule IDO1-inhibitor.

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