Bellevue Group AG increased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 42.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 486,824 shares of the biopharmaceutical company’s stock after acquiring an additional 145,095 shares during the quarter. Bristol-Myers Squibb accounts for 1.7% of Bellevue Group AG’s portfolio, making the stock its 16th biggest position. Bellevue Group AG’s holdings in Bristol-Myers Squibb were worth $25,305,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. LSV Asset Management grew its position in Bristol-Myers Squibb by 317.2% during the third quarter. LSV Asset Management now owns 37,131 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 28,231 shares in the last quarter. Bank of New York Mellon Corp grew its position in Bristol-Myers Squibb by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 17,123,173 shares of the biopharmaceutical company’s stock valued at $1,063,006,000 after purchasing an additional 277,927 shares in the last quarter. Martingale Asset Management L P grew its position in Bristol-Myers Squibb by 12.7% during the third quarter. Martingale Asset Management L P now owns 556,353 shares of the biopharmaceutical company’s stock valued at $34,540,000 after purchasing an additional 62,836 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth approximately $207,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Bristol-Myers Squibb in the third quarter worth approximately $2,340,000. Institutional investors and hedge funds own 73.14% of the company’s stock.
Several analysts have commented on the stock. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Bank of America decreased their target price on shares of Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, February 19th. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Morgan Stanley set a $54.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, December 20th. Finally, Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.13.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Bristol-Myers Squibb had a net margin of 21.95% and a return on equity of 48.99%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. As a group, analysts anticipate that Bristol-Myers Squibb Co will post 4.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
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Bristol-Myers Squibb Profile
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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