Illinois Municipal Retirement Fund increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,365 shares of the biopharmaceutical company's stock after buying an additional 16,207 shares during the period. Bristol Myers Squibb accounts for about 0.7% of Illinois Municipal Retirement Fund's investment portfolio, making the stock its 14th biggest position. Illinois Municipal Retirement Fund's holdings in Bristol Myers Squibb were worth $47,168,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock valued at $3,967,000 after buying an additional 869 shares during the last quarter. Shorepoint Capital Partners LLC grew its stake in shares of Bristol Myers Squibb by 2.2% during the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock valued at $3,305,000 after buying an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock valued at $33,582,000 after buying an additional 80,087 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BMY has been the topic of a number of analyst reports. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group dropped their target price on 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. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average target price of $58.00.
Check Out Our Latest Stock Report on BMY
Bristol Myers Squibb Stock Performance
NYSE BMY opened at $46.68 on Friday. The stock has a 50-day simple moving average of $47.96 and a two-hundred day simple moving average of $54.02. The firm has a market capitalization of $95.01 billion, a P/E ratio of 17.48, a PEG ratio of 1.38 and a beta of 0.38. Bristol Myers Squibb Company has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.40) earnings per share. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.31%. Bristol Myers Squibb's payout ratio is 92.88%.
Insider Activity at Bristol Myers Squibb
In related news, EVP Samit Hirawat acquired 4,250 shares of the business's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.
Bristol Myers Squibb Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).
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