Sumitomo Life Insurance Co. boosted its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,340 shares of the biopharmaceutical company’s stock after acquiring an additional 1,989 shares during the period. Sumitomo Life Insurance Co.’s holdings in Bristol-Myers Squibb were worth $2,238,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legal & General Group Plc raised its holdings in Bristol-Myers Squibb by 5.9% in the fourth quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock worth $445,300,000 after buying an additional 474,820 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its holdings in Bristol-Myers Squibb by 5.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after buying an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP raised its holdings in Bristol-Myers Squibb by 10.9% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 1,905 shares during the last quarter. Stephens Inc. AR raised its holdings in Bristol-Myers Squibb by 30.7% in the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock worth $10,331,000 after buying an additional 50,798 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc raised its holdings in Bristol-Myers Squibb by 3.5% in the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock worth $2,285,000 after buying an additional 1,687 shares during the last quarter. 77.71% of the stock is owned by institutional investors.
Shares of BMY stock traded up $0.26 during trading hours on Wednesday, reaching $45.95. The company had a trading volume of 7,162,938 shares, compared to its average volume of 14,899,019. The business has a fifty day moving average of $45.49. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $63.69. The firm has a market capitalization of $74.74 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.28 and a beta of 0.73. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.41 dividend. 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 3.57%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
Several research analysts have issued reports on BMY shares. Goldman Sachs Group started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price for the company. UBS Group decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, June 13th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Tuesday, May 7th. BMO Capital Markets lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.45.
In related news, Director Robert J. Bertolini purchased 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at $145,818.96. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
About Bristol-Myers Squibb
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.
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