Bristol Myers Squibb Company $BMY Stock Holdings Raised by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management increased its Bristol Myers Squibb stake by 9.6% in the third quarter, adding 32,161 shares to hold 367,143 shares valued at about $23.1 million. Institutional investors own 76.41% of the company.
• Bristol Myers Squibb reported quarterly EPS of $1.35, beating the $1.10 consensus, and revenue of $13.07 billion, above estimates and up 6.9% year over year.
• The company’s quarterly dividend equates to $2.52 annually, a 4.1% yield. Analysts’ consensus rating is “Hold,” with an average price target of $65.46.

Rakuten Investment Management Inc. lifted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 367,143 shares of the biopharmaceutical company's stock after purchasing an additional 32,161 shares during the period. Rakuten Investment Management Inc.'s holdings in Bristol Myers Squibb were worth $23,079,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Provenance Wealth Advisors LLC bought a new position in Bristol Myers Squibb during the third quarter worth $168,000. Associated Banc Corp bought a new stake in Bristol Myers Squibb in the 3rd quarter valued at $3,010,000. First Nebraska Trust Co bought a new stake in Bristol Myers Squibb in the 3rd quarter valued at $669,000. Eads & Heald Wealth Management boosted its holdings in Bristol Myers Squibb by 18.0% in the 3rd quarter. Eads & Heald Wealth Management now owns 21,637 shares of the biopharmaceutical company's stock valued at $1,350,000 after purchasing an additional 3,307 shares during the period. Finally, VCI Wealth Management LLC acquired a new stake in Bristol Myers Squibb in the 3rd quarter worth $1,798,000. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the sale, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.05% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $61.63 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $125.98 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. Bristol Myers Squibb Company has a 12-month low of $45.26 and a 12-month high of $68.64. The firm has a 50-day moving average price of $62.60 and a 200 day moving average price of $60.00.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same quarter in the previous year, the firm earned $1.63 EPS. Bristol Myers Squibb's quarterly revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.1%. Bristol Myers Squibb's dividend payout ratio is 55.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BMY shares. Argus upgraded shares of Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Wednesday, August 5th. Leerink Partners downgraded Bristol Myers Squibb from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $73.00 to $59.00 in a research report on Monday, October 5th. Sanford C. Bernstein reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 13th. BMO Capital Markets reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Finally, Guggenheim reissued a "buy" rating and set a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus target price of $65.46.

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.