Meeder Asset Management Inc. reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 25.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,293 shares of the biopharmaceutical company’s stock after selling 18,618 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,416,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after buying an additional 30,981,844 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Bristol-Myers Squibb by 75.7% in the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock valued at $732,691,000 after buying an additional 6,960,047 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Bristol-Myers Squibb by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,251,891 shares of the biopharmaceutical company’s stock valued at $328,873,000 after buying an additional 78,260 shares in the last quarter. Nordea Investment Management AB boosted its stake in Bristol-Myers Squibb by 380.2% in the first quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock valued at $298,324,000 after buying an additional 4,950,748 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Bristol-Myers Squibb by 14.3% in the first quarter. California Public Employees Retirement System now owns 5,118,016 shares of the biopharmaceutical company’s stock valued at $244,181,000 after buying an additional 642,267 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.
In related news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares of the company’s stock, valued at $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Bristol-Myers Squibb stock traded up $0.04 during trading hours on Tuesday, hitting $47.50. The stock had a trading volume of 149,191 shares, compared to its average volume of 14,823,283. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $63.69. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51. The stock has a market cap of $76.85 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 2.33 and a beta of 0.73. The business’s 50 day simple moving average is $45.44 and its 200-day simple moving average is $47.45.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.45%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
Several research firms recently weighed in on BMY. Barclays raised Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Tuesday, May 7th. Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price for the company. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.88.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Further Reading: Hold Rating
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