Mirae Asset Global Investments Co. Ltd. grew its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,416 shares of the biopharmaceutical company’s stock after buying an additional 3,300 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $26,905,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in BMY. Capital International Investors acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $1,672,455,000. Norges Bank acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $1,413,962,000. California Public Employees Retirement System grew its stake in Bristol-Myers Squibb by 59.0% during the first quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock worth $859,676,000 after purchasing an additional 4,367,193 shares during the period. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 16.9% in the fourth quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock valued at $1,378,836,000 after acquiring an additional 3,195,680 shares during the period. Finally, Eaton Vance Management grew its stake in Bristol-Myers Squibb by 52.8% in the first quarter. Eaton Vance Management now owns 7,329,809 shares of the biopharmaceutical company’s stock valued at $535,296,000 after acquiring an additional 2,532,851 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on BMY shares. Citigroup reissued a “buy” rating and issued a $90.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Berenberg Bank cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and reduced their price objective for the company from $82.00 to $76.00 in a research note on Wednesday. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. JPMorgan Chase & Co. raised their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Finally, Raymond James cut Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research note on Friday, June 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.
Insider Buying and Selling
In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the sale, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the sale, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Giovanni Caforio sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 501,104 shares of the company’s stock, valued at $35,999,311.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,951 shares of company stock worth $14,911,456. 0.09% of the stock is owned by company insiders.
Bristol-Myers Squibb Stock Performance
Shares of Bristol-Myers Squibb stock opened at $71.52 on Friday. The business’s fifty day simple moving average is $72.58 and its 200 day simple moving average is $73.96. The firm has a market capitalization of $152.71 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. Bristol-Myers Squibb’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. As a group, analysts anticipate that Bristol-Myers Squibb will post 7.5 EPS for the current year.
Bristol-Myers Squibb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 71.76%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company’s products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
Further Reading
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