JGP Global Gestao de Recursos Ltda. Acquires New Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• JGP Global Gestao de Recursos Ltda. has acquired a new position in Bristol Myers Squibb (NYSE:BMY) during the first quarter, buying 6,734 shares valued at around $411,000, which makes up 0.3% of their portfolio.
• Institutional investors own 76.41% of Bristol Myers Squibb's stock, with significant increases from firms like Ameriprise Financial and Capital International Investors in the last quarter.
• Analysts have mixed opinions on Bristol Myers Squibb, with a consensus rating of "Hold" and a target price averaging $57.33, while Citigroup recently lowered its target from $51 to $47.

JGP Global Gestao de Recursos Ltda. acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,734 shares of the biopharmaceutical company's stock, valued at approximately $411,000. Bristol Myers Squibb accounts for 0.3% of JGP Global Gestao de Recursos Ltda.'s portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Capital International Investors increased its position in shares of Bristol Myers Squibb by 7.5% during 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 buying an additional 3,218,865 shares during the period. Ameriprise Financial Inc. increased its position in shares of Bristol Myers Squibb by 59.9% during 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 buying an additional 12,011,983 shares during the period. Bank of New York Mellon Corp increased its position in shares of Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. Northern Trust Corp increased its position in shares of Bristol Myers Squibb by 16.2% during the fourth 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Bristol Myers Squibb by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock valued at $1,259,690,000 after buying an additional 3,196,919 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several analyst reports. Citigroup decreased their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Piper Sandler assumed coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $57.33.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $44.25 on Monday. The firm has a market cap of $90.07 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.36. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business has a 50 day moving average price of $47.51 and a 200-day moving average price of $52.23.

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

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Bristol Myers Squibb Company 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.

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