Bristol Myers Squibb Company $BMY Shares Bought by Sector Gamma AS

Key Points

• Sector Gamma AS increased its stake in Bristol Myers Squibb Company by 18.8%, making it the firm's largest position, representing approximately 8.5% of its investment portfolio.
• The biopharmaceutical company reported a 1.46 EPS for the last quarter, which exceeded analysts' expectations, alongside a revenue of $12.27 billion, indicating a year-over-year growth.
• Bristol Myers Squibb declared a quarterly dividend of $0.62, which translates to an annual yield of 5.2%, although its dividend payout ratio is currently at 100%.

Sector Gamma AS lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 18.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,000 shares of the biopharmaceutical company's stock after acquiring an additional 68,834 shares during the period. Bristol Myers Squibb makes up about 8.5% of Sector Gamma AS's investment portfolio, making the stock its largest holding. Sector Gamma AS's holdings in Bristol Myers Squibb were worth $26,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Bristol Myers Squibb by 0.8% during the 1st 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 period. Charles Schwab Investment Management Inc. boosted 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 worth $3,696,415,000 after purchasing an additional 306,430 shares during the period. Capital International Investors increased its holdings in shares of Bristol Myers Squibb by 7.5% in 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. raised its position in shares of Bristol Myers Squibb by 59.9% in 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 period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BMY shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. 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 report on Wednesday, April 23rd. Finally, Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, fifteen have assigned 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, the stock has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Price Performance

NYSE:BMY traded down $0.25 on Monday, hitting $48.19. The company had a trading volume of 7,865,214 shares, compared to its average volume of 12,742,200. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $98.09 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.48 and a beta of 0.36. The firm has a 50 day moving average of $47.23 and a two-hundred day moving average of $51.39.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results 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 company 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%. Bristol Myers Squibb's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis 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%.

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 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.