Bristol Myers Squibb Company $BMY Stock Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 778,865 shares of the biopharmaceutical company’s stock after acquiring an additional 31,723 shares during the period. Bristol Myers Squibb makes up 0.5% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 21st largest holding. Illinois Municipal Retirement Fund’s holdings in Bristol Myers Squibb were worth $48,601,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Davis Asset Management L.P. bought a new stake in shares of Bristol Myers Squibb in the second quarter worth about $27,000. Addison Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter worth about $32,000. Groupe la Francaise lifted its position in shares of Bristol Myers Squibb by 562.9% in the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 501 shares in the last quarter. Arlington Trust Co LLC bought a new position in Bristol Myers Squibb during the second quarter valued at approximately $35,000. Finally, Kilter Group LLC bought a new position in Bristol Myers Squibb during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Up 1.1%

Shares of NYSE BMY opened at $62.80 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79. Bristol Myers Squibb Company has a 12-month low of $45.26 and a 12-month high of $68.64. The firm’s 50-day moving average price is $62.17 and its 200-day moving average price is $60.19. The stock has a market capitalization of $128.37 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.32 and a beta of 0.20.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.72 billion. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.45 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio is 55.88%.

Analyst Upgrades and Downgrades

BMY has been the subject of several research analyst reports. Zacks Research cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 22nd. Piper Sandler decreased their price objective on Bristol Myers Squibb from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Roth Capital initiated coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “buy” rating and a $75.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and issued a $76.00 target price on shares of Bristol Myers Squibb in a report on Monday, October 12th. Finally, Cantor Fitzgerald reduced their price target on shares of Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.46.

Insider Activity at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julia A. Haller sold 3,800 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total value of $240,578.00. Following the transaction, the director directly owned 30,279 shares in the company, valued at approximately $1,916,963.49. This represents a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by company insiders.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.