Sustainable Insight Capital Management LLC bought a new position in Bristol-Myers Squibb Co (NYSE:BMY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 4,769 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.
Several other large investors also recently bought and sold shares of BMY. FMR LLC lifted its position in shares of Bristol-Myers Squibb by 313.9% in the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after purchasing an additional 30,981,844 shares during the period. Janus Henderson Group PLC increased its stake in shares of Bristol-Myers Squibb by 75.7% in the 2nd quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after acquiring an additional 6,960,047 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Bristol-Myers Squibb by 380.2% in the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after acquiring an additional 4,950,748 shares in the last quarter. Ronna Sue Cohen increased its stake in shares of Bristol-Myers Squibb by 4,702.2% in the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock worth $1,518,000 after acquiring an additional 1,486,612 shares in the last quarter. Finally, PGGM Investments bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth about $49,045,000. 80.11% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on BMY. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, May 7th. UBS Group decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, June 13th. Goldman Sachs Group began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price target for the company. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target for the company. in a research note on Monday, May 20th. Finally, Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $55.88.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. Bristol-Myers Squibb’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Equities analysts anticipate that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.44%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In other news, Director Robert J. Bertolini acquired 11,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.
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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