Teachers Retirement System of The State of Kentucky increased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,723 shares of the biopharmaceutical company's stock after buying an additional 7,241 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Bristol Myers Squibb were worth $16,634,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Bristol Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after acquiring an additional 1,373,209 shares during the period. Capital International Investors raised its position in 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 worth $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after buying an additional 1,187,231 shares during the period. Norges Bank acquired a new stake in Bristol Myers Squibb during the 4th quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. raised 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 buying an additional 12,011,983 shares during the period. Institutional investors own 76.41% of the company's stock.
Bristol Myers Squibb Trading Up 0.0%
NYSE:BMY traded up $0.00 during mid-day trading on Thursday, hitting $48.98. The company had a trading volume of 2,423,270 shares, compared to its average volume of 13,329,898. Bristol Myers Squibb Company has a fifty-two week low of $44.00 and a fifty-two week high of $63.33. The business's fifty day moving average is $47.57 and its two-hundred day moving average is $52.76. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market cap of $99.68 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.51 and a beta of 0.36.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the firm earned ($4.40) EPS. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.
Insiders Place Their Bets
In related news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president directly owned 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Morgan Stanley decreased their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research report on Thursday, July 10th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, UBS Group cut their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus target price of $58.53.
Check Out Our Latest Stock Analysis on Bristol Myers Squibb
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.
See Also
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
