Pinnacle Associates Ltd. decreased its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,224 shares of the biopharmaceutical company’s stock after selling 17,830 shares during the period. Pinnacle Associates Ltd.’s holdings in Bristol-Myers Squibb were worth $15,168,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BMY. Ameriprise Financial Inc. grew its holdings in shares of Bristol-Myers Squibb by 18.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after acquiring an additional 2,451,390 shares in the last quarter. Swiss National Bank grew its holdings in shares of Bristol-Myers Squibb by 27.2% in the 1st quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock valued at $322,020,000 after acquiring an additional 1,267,900 shares in the last quarter. State Street Corp grew its holdings in shares of Bristol-Myers Squibb by 1.8% in the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after acquiring an additional 1,223,457 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Bristol-Myers Squibb by 5.4% in the 2nd quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock valued at $1,288,179,000 after acquiring an additional 1,184,652 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its stake in Bristol-Myers Squibb by 5,377.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,189,789 shares of the biopharmaceutical company’s stock valued at $21,353,000 after purchasing an additional 1,168,066 shares during the last quarter. Institutional investors own 68.97% of the company’s stock.
Several equities research analysts recently issued reports on BMY shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 target price for the company. in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 target price (up from $63.00) on shares of Bristol-Myers Squibb in a research note on Thursday, August 24th. UBS AG reiterated a “buy” rating and issued a $72.00 target price (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Finally, Citigroup Inc. raised their target price on shares of Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.93.
Bristol-Myers Squibb Company (BMY) opened at $61.32 on Monday. The firm has a market cap of $100,360.00, a P/E ratio of 20.72, a PEG ratio of 2.42 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. sell-side analysts anticipate that Bristol-Myers Squibb Company will post 2.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 61.42%.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.
About Bristol-Myers Squibb
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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