Westpac Banking Corp Reduces Position in Bristol-Myers Squibb Co (BMY)

Westpac Banking Corp decreased its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 184,275 shares of the biopharmaceutical company’s stock after selling 26,000 shares during the period. Westpac Banking Corp’s holdings in Bristol-Myers Squibb were worth $11,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,402,341 shares of the biopharmaceutical company’s stock valued at $301,019,000 after purchasing an additional 270,982 shares during the period. Cadinha & Co. LLC increased its stake in shares of Bristol-Myers Squibb by 261.1% in the second quarter. Cadinha & Co. LLC now owns 15,760 shares of the biopharmaceutical company’s stock valued at $878,000 after purchasing an additional 11,395 shares during the period. New Jersey Better Educational Savings Trust increased its stake in shares of Bristol-Myers Squibb by 40.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the biopharmaceutical company’s stock valued at $780,000 after purchasing an additional 4,000 shares during the period. Partnervest Advisory Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $756,000. Finally, Foundry Partners LLC increased its stake in shares of Bristol-Myers Squibb by 2,602.3% in the second quarter. Foundry Partners LLC now owns 237,371 shares of the biopharmaceutical company’s stock valued at $13,226,000 after purchasing an additional 228,587 shares during the period. Hedge funds and other institutional investors own 69.56% of the company’s stock.

Several equities research analysts have commented on BMY shares. Credit Suisse Group restated a “hold” rating and issued a $61.00 price target (up previously from $58.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 27th. Piper Jaffray Companies reiterated a “hold” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Leerink Swann increased their price objective on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Finally, Vetr cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price objective for the company. in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $66.73.

In related news, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now directly owns 584,373 shares in the company, valued at $37,031,717.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at $585,033.24. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Shares of Bristol-Myers Squibb Co (BMY) opened at $68.96 on Friday. The firm has a market cap of $112,870.00, a P/E ratio of 29.22, a P/E/G ratio of 2.14 and a beta of 1.08. Bristol-Myers Squibb Co has a 1-year low of $51.56 and a 1-year high of $70.05. The company has a current ratio of 1.55, a quick ratio of 1.46 and a debt-to-equity ratio of 0.59.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. equities research analysts predict that Bristol-Myers Squibb Co will post 3.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 67.80%.

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Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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

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