Ardevora Asset Management LLP increased its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 25.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 469,100 shares of the biopharmaceutical company’s stock after buying an additional 96,400 shares during the period. Ardevora Asset Management LLP’s holdings in Bristol-Myers Squibb were worth $26,138,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $1,181,000. Menta Capital LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $1,905,000. Graham Capital Management L.P. bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $982,000. Tyers Asset Management LLC bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $818,000. Finally, Zurich Insurance Group Ltd FI boosted its position in Bristol-Myers Squibb by 43.0% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 325,956 shares of the biopharmaceutical company’s stock valued at $19,049,000 after buying an additional 97,990 shares in the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bristol-Myers Squibb Company (NYSE:BMY) opened at 55.44 on Friday. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $76.80. The firm has a 50-day moving average of $55.02 and a 200-day moving average of $54.70. The firm has a market cap of $91.33 billion, a price-to-earnings ratio of 19.26 and a beta of 1.17. Bristol-Myers Squibb also was the target of unusually large options trading activity on Thursday. Traders acquired 781 put options on the company. This is an increase of approximately 117% compared to the typical daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.12. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.75 billion. Bristol-Myers Squibb had a net margin of 24.22% and a return on equity of 31.86%. Bristol-Myers Squibb’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, analysts anticipate that Bristol-Myers Squibb Company will post $2.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 54.17%.
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BMY has been the topic of several research analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 4th. Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $60.09 price target on the stock in a report on Wednesday, April 5th. Robert W. Baird initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 25th. They issued an “outperform” rating on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a report on Monday, June 5th. Finally, BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $63.26.
Bristol-Myers Squibb Company 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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