Arizona State Retirement System Has $36.30 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Arizona State Retirement System increased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,214 shares of the biopharmaceutical company's stock after purchasing an additional 9,209 shares during the period. Arizona State Retirement System's holdings in Bristol Myers Squibb were worth $36,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pinney & Scofield Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates lifted its holdings in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Bristol Myers Squibb during the fourth quarter worth about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of BMY traded down $1.61 during trading hours on Friday, hitting $46.91. The company had a trading volume of 13,670,701 shares, compared to its average volume of 12,845,758. The business has a fifty day moving average of $47.51 and a 200-day moving average of $53.28. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The firm has a market cap of $95.47 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.43 and a beta of 0.36. Bristol Myers Squibb Company has a 12 month low of $39.93 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the prior year, the firm earned ($4.40) EPS. The business's revenue was down 5.6% on a year-over-year basis. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 92.88%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Jefferies Financial Group lowered their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $57.69.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of Bristol Myers Squibb stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

About Bristol Myers Squibb

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.