Coho Partners Ltd. acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 70,803 shares of the biopharmaceutical company's stock, valued at approximately $4,318,000.
A number of other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new position in Bristol Myers Squibb in the 4th quarter worth $1,989,525,000. Ameriprise Financial Inc. lifted its holdings in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Bristol Myers Squibb in the 4th quarter worth $257,618,000. Institutional investors and hedge funds own 76.41% of the company's stock.
Insider Activity at Bristol Myers Squibb
In related news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.
Bristol Myers Squibb Price Performance
Shares of NYSE:BMY opened at $46.87 on Friday. The firm's 50 day moving average is $48.20 and its two-hundred day moving average is $54.32. Bristol Myers Squibb Company has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a market capitalization of $95.38 billion, a P/E ratio of 17.55, a PEG ratio of 1.39 and a beta of 0.38. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the business earned ($4.40) earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.29%. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Jefferies Financial Group dropped their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.00.
View Our Latest Analysis on BMY
About Bristol Myers Squibb
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Free Report)
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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
Further Reading
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