Brandywine Global Investment Management LLC Increases Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Brandywine Global Investment Management LLC has increased its stake in Bristol Myers Squibb by 2.2%, acquiring an additional 20,996 shares, bringing its total holdings to 968,519 shares valued at approximately $59 million.
• Analysts have mixed views on Bristol Myers Squibb, with a consensus rating of "Hold" and a target price of $56.38, while recent reports have noted adjustments in ratings and price targets from major firms.
• Bristol Myers Squibb reported earnings of $1.46 per share, significantly exceeding analysts' expectations, and announced a $0.62 quarterly dividend, reflecting a yield of 5.2% with a full payout ratio of 100%.

Brandywine Global Investment Management LLC increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 968,519 shares of the biopharmaceutical company's stock after acquiring an additional 20,996 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Bristol Myers Squibb were worth $59,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock valued at $3,696,415,000 after purchasing an additional 306,430 shares during the last quarter. Capital International Investors lifted its position in Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group reduced 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.25 during trading on Monday, hitting $48.19. 7,865,214 shares of the stock traded hands, compared to its average volume of 12,742,200. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market cap of $98.09 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.48 and a beta of 0.36. The company has a fifty day moving average price of $47.23 and a two-hundred day moving average price of $51.39. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. As a group, equities analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

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.