Zurcher Kantonalbank Zurich Cantonalbank Has $80.64 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,104,148 shares of the biopharmaceutical company’s stock after purchasing an additional 132,341 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Bristol-Myers Squibb worth $80,636,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in shares of Bristol-Myers Squibb by 2.2% during the fourth quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock valued at $5,901,176,000 after acquiring an additional 2,020,678 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bristol-Myers Squibb by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 37,863,099 shares of the biopharmaceutical company’s stock valued at $2,354,737,000 after acquiring an additional 922,811 shares in the last quarter. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,413,962,000. Primecap Management Co. CA grew its holdings in Bristol-Myers Squibb by 16.9% during the fourth quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock worth $1,378,836,000 after buying an additional 3,195,680 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Bristol-Myers Squibb by 20.8% during the fourth quarter. Nordea Investment Management AB now owns 18,130,455 shares of the biopharmaceutical company’s stock worth $1,136,598,000 after buying an additional 3,124,811 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Shares of NYSE:BMY traded down $0.65 during midday trading on Friday, reaching $76.35. 216,501 shares of the company traded hands, compared to its average volume of 14,783,139. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The firm has a market capitalization of $162.55 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.67 and a beta of 0.49. The firm’s fifty day moving average price is $76.08 and its two-hundred day moving average price is $70.70.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.04. The company had revenue of $11.65 billion for the quarter, compared to analyst estimates of $11.34 billion. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. Analysts forecast that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be paid a $0.54 dividend. The ex-dividend date is Thursday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 2.83%. Bristol-Myers Squibb’s dividend payout ratio is currently 76.60%.

Several equities research analysts recently issued reports on the company. Guggenheim upped their price target on Bristol-Myers Squibb from $72.00 to $80.00 in a report on Monday, May 2nd. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th. Morgan Stanley cut their price objective on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 6th. Truist Financial boosted their price objective on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Finally, Barclays boosted their price objective on Bristol-Myers Squibb from $66.00 to $68.00 in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.27.

In other news, EVP Sandra Leung sold 65,000 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the transaction, the executive vice president now directly owns 308,627 shares in the company, valued at approximately $23,113,076.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at $40,803,740.16. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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