Pinebridge Investments L.P. raised its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 745,316 shares of the biopharmaceutical company’s stock after purchasing an additional 114,830 shares during the quarter. Pinebridge Investments L.P.’s holdings in Bristol-Myers Squibb were worth $47,663,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dakota Wealth Management purchased a new position in Bristol-Myers Squibb in the 1st quarter valued at about $332,000. Covestor Ltd grew its stake in Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp raised its stake in shares of Bristol-Myers Squibb by 25.1% in the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares in the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Insider Activity
In related news, Director Theodore R. Samuels II purchased 8,500 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $49.81 per share, with a total value of $423,385.00. Following the purchase, the director now directly owns 35,500 shares in the company, valued at approximately $1,768,255. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.
Bristol-Myers Squibb Stock Performance
Shares of BMY traded up $0.08 during trading hours on Wednesday, reaching $49.00. 1,820,374 shares of the company traded hands, compared to its average volume of 9,772,671. The stock’s fifty day moving average is $54.15 and its 200 day moving average is $59.92. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.18. The stock has a market cap of $99.70 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. Bristol-Myers Squibb has a 1-year low of $48.42 and a 1-year high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.76 by $0.24. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. Bristol-Myers Squibb’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 EPS. Equities research analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.
Bristol-Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 57.87%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating on the stock in a research note on Friday, October 27th. Cantor Fitzgerald lowered shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $55.00 in a research note on Wednesday, November 15th. TD Cowen cut their price objective on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, September 15th. TheStreet cut shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, The Goldman Sachs Group dropped their target price on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.59.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company’s products include 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.