Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Bristol Myers Squibb by 49.0% during the first quarter, now holding 101,816 shares valued at $6.21 million.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding analysts' expectations, and had a revenue of $12.27 billion, indicating a 0.6% year-over-year increase.
• The company announced a quarterly dividend of $0.62 per share, representing an annualized dividend yield of 5.5%.

Ontario Teachers Pension Plan Board boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 49.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,816 shares of the biopharmaceutical company's stock after purchasing an additional 33,477 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Bristol Myers Squibb were worth $6,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates grew its position in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Transce3nd LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb during the first quarter valued at about $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BMY shares. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Finally, William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Up 1.3%

Shares of NYSE:BMY traded up $0.60 during trading on Friday, hitting $45.96. The company's stock had a trading volume of 9,987,114 shares, compared to its average volume of 13,753,402. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock's 50-day moving average price is $47.32 and its two-hundred day moving average price is $51.90. The company has a market capitalization of $93.55 billion, a PE ratio of 18.53, a PEG ratio of 2.32 and a beta of 0.36.

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

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.4%. Bristol Myers Squibb's dividend 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.