King Luther Capital Management Corp Boosts Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• King Luther Capital Management Corp significantly increased its stake in Bristol Myers Squibb by 1,030.8%, owning 249,387 shares valued at approximately $15.21 million.
• Recent earnings exceeded analysts' expectations with a reported $1.46 EPS, compared to consensus estimates of $1.07 EPS, and a revenue of $12.27 billion for the quarter.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, reflecting an annualized payout of $2.48 and a dividend yield of 5.4%.

King Luther Capital Management Corp grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1,030.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,387 shares of the biopharmaceutical company's stock after buying an additional 227,332 shares during the quarter. King Luther Capital Management Corp's holdings in Bristol Myers Squibb were worth $15,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BMY. Ameriprise Financial Inc. grew its holdings 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 last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Bristol Myers Squibb by 701.2% during the fourth 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 last quarter. Northern Trust Corp grew its holdings 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 last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Bristol Myers Squibb by 72.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock valued at $439,427,000 after buying an additional 3,275,061 shares during the last quarter. Finally, Capital International Investors grew its holdings 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 last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

BMY has been the topic of a number of recent analyst reports. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Performance

BMY traded up $0.56 during trading on Friday, hitting $48.37. The company's stock had a trading volume of 4,007,458 shares, compared to its average volume of 13,338,258. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The firm has a market cap of $98.46 billion, a PE ratio of 19.52, a P/E/G ratio of 2.45 and a beta of 0.36. The business's 50 day simple moving average is $47.23 and its 200-day simple moving average is $51.57.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm 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%. The company's revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 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.