Bristol Myers Squibb Company $BMY Stock Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in Bristol Myers Squibb Company (NYSE:BMY) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 606,134 shares of the biopharmaceutical company’s stock after acquiring an additional 9,890 shares during the period. King Luther Capital Management Corp’s holdings in Bristol Myers Squibb were worth $37,823,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMY. Davis Asset Management L.P. bought a new stake in shares of Bristol Myers Squibb in the second quarter valued at approximately $27,000. Addison Advisors LLC bought a new position in Bristol Myers Squibb in the 2nd quarter worth approximately $32,000. Groupe la Francaise boosted its holdings in Bristol Myers Squibb by 562.9% in the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 501 shares during the period. Arlington Trust Co LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. Finally, Kilter Group LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $62.91 on Thursday. The firm has a market capitalization of $128.59 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.32 and a beta of 0.20. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a fifty day moving average of $62.09 and a 200 day moving average of $60.23. Bristol Myers Squibb Company has a 52-week low of $45.26 and a 52-week high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.72 billion. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The company’s revenue for the quarter 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, research analysts expect that Bristol Myers Squibb Company will post 6.45 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Raymond James Financial began coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “strong-buy” rating on the stock. Cantor Fitzgerald cut their price target on Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Morgan Stanley reduced their price target on Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating for the company in a research report on Friday, October 30th. Roth Capital assumed coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Bank of America reissued a “buy” rating on shares of Bristol Myers Squibb in a report on Friday, October 30th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.46.

Bristol Myers Squibb 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.