Smith Asset Management Group LP boosted its stake in Bristol-Myers Squibb Co. (NYSE:BMY) by 439.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 990,710 shares of the biopharmaceutical company’s stock after buying an additional 807,050 shares during the period. Bristol-Myers Squibb makes up about 2.2% of Smith Asset Management Group LP’s portfolio, making the stock its 9th largest position. Smith Asset Management Group LP’s holdings in Bristol-Myers Squibb were worth $72,867,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at $154,732,000. Canada Pension Plan Investment Board raised its position in shares of Bristol-Myers Squibb by 628.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,323,821 shares of the biopharmaceutical company’s stock valued at $84,566,000 after buying an additional 1,142,200 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Bristol-Myers Squibb during the first quarter valued at $69,778,000. TIAA CREF Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 9.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,372,071 shares of the biopharmaceutical company’s stock valued at $662,568,000 after buying an additional 921,866 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock valued at $2,858,131,000 after buying an additional 844,233 shares during the last quarter. 72.88% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.52% during midday trading on Tuesday, reaching $49.55. The company had a trading volume of 24,530,192 shares. Bristol-Myers Squibb Co. has a 12 month low of $49.50 and a 12 month high of $77.12. The firm has a 50-day moving average of $56.14 and a 200-day moving average of $66.76. The stock has a market cap of $82.79 billion, a P/E ratio of 28.98 and a beta of 0.75.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is presently 87.36%.
Several research analysts have weighed in on BMY shares. Credit Suisse Group AG lowered Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $86.00 to $63.00 in a research report on Sunday, August 7th. Morgan Stanley reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Leerink Swann reissued a “buy” rating and set a $69.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday. Jefferies Group reissued a “hold” rating and set a $57.00 price objective (down previously from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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