Korea Investment CORP Increases Position in Bristol Myers Squibb Company $BMY

Key Points

• Korea Investment CORP has increased its position in Bristol Myers Squibb by 2.0%, now owning 2,038,026 shares valued at approximately $124 million.
• The company reported an EPS of $1.46 for the last quarter, surpassing analyst expectations, alongside a revenue of $12.27 billion.
• Bristol Myers Squibb recently declared a quarterly dividend of $0.62, translating to an annualized yield of 5.1%.

Korea Investment CORP raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,038,026 shares of the biopharmaceutical company's stock after buying an additional 39,394 shares during the period. Korea Investment CORP owned about 0.10% of Bristol Myers Squibb worth $124,299,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates boosted its holdings in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $48.45 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a fifty day moving average price of $47.23 and a 200 day moving average price of $51.39. The company has a market cap of $98.62 billion, a P/E ratio of 19.54, a PEG ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its 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 firm had revenue of $12.27 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMY shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Citigroup cut their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Finally, Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus target price of $56.38.

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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