Free Trial

Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Cambiar Investors LLC

Bristol Myers Squibb logo with Medical background

Key Points

  • Cambiar Investors LLC reduced its stake in Bristol Myers Squibb by 2.6%, owning 1,011,934 shares valued at approximately $61.7 million, making it the firm's fourth-largest position.
  • Several institutional investors notably increased their stakes in Bristol Myers Squibb, with GQG Partners boosting their holdings by a staggering 22,647.6% in the first quarter, now owning over 12 million shares valued at around $733 million.
  • Bristol Myers Squibb recently reported quarterly earnings of $1.46 per share, surpassing analyst expectations, and announced a dividend of $0.62, yielding 5.1% annually, with a payout ratio of 100.00%.
  • Looking to export and analyze Bristol Myers Squibb data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Cambiar Investors LLC trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,011,934 shares of the biopharmaceutical company's stock after selling 27,465 shares during the period. Bristol Myers Squibb makes up 2.6% of Cambiar Investors LLC's portfolio, making the stock its 4th biggest position. Cambiar Investors LLC's holdings in Bristol Myers Squibb were worth $61,718,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after buying an additional 11,970,598 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares during the period. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $624,369,000. Finally, Northern Trust Corp boosted its holdings in shares of Bristol Myers Squibb by 16.2% in the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after buying an additional 3,431,248 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the topic of several recent research reports. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Finally, Jefferies Financial Group cut their price objective 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average price target of $56.38.

Read Our Latest Research Report on BMY

Bristol Myers Squibb Stock Up 1.3%

BMY stock opened at $48.45 on Friday. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a market capitalization of $98.62 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The firm's 50-day moving average is $47.23 and its two-hundred day moving average is $51.45. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

About Bristol Myers Squibb

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Bristol Myers Squibb (NYSE:BMY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Bristol Myers Squibb Right Now?

Before you consider Bristol Myers Squibb, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bristol Myers Squibb wasn't on the list.

While Bristol Myers Squibb currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir’s Soaring Valuation—Justified or Overhyped?
3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines