Ruffer LLP Makes New $6.84 Million Investment in Bristol Myers Squibb Company $BMY

Ruffer LLP purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 151,760 shares of the biopharmaceutical company’s stock, valued at approximately $6,844,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Bristol Myers Squibb during the 2nd quarter valued at $1,554,154,000. Charles Schwab Investment Management Inc. raised its position in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Bristol Myers Squibb by 428.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after buying an additional 9,171,098 shares in the last quarter. Man Group plc lifted its stake in Bristol Myers Squibb by 280.4% during the second quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock valued at $345,594,000 after purchasing an additional 5,503,391 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Bristol Myers Squibb by 142.8% during the 2nd quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock worth $390,541,000 after buying an additional 4,961,869 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of BMY stock opened at $54.66 on Thursday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33. The firm has a fifty day moving average of $53.07 and a 200-day moving average of $48.55. The firm has a market capitalization of $111.26 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $1.80 earnings per share. On average, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is currently 85.14%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research reports. Bank of America upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Wells Fargo & Company raised their target price on Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Citigroup reaffirmed a “neutral” rating and set a $60.00 price objective (up from $53.00) on shares of Bristol Myers Squibb in a report on Tuesday. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Finally, UBS Group upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $65.00 in a research note on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.43.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.