Los Angeles Capital Management LLC Raises Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Los Angeles Capital Management LLC boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,401,198 shares of the biopharmaceutical company's stock after buying an additional 118,921 shares during the period. Los Angeles Capital Management LLC owned 0.12% of Bristol Myers Squibb worth $146,449,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at about $1,989,525,000. Ameriprise Financial Inc. lifted its holdings in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Bristol Myers Squibb by 701.2% during the 4th 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 purchasing an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Bristol Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock valued at $639,837,000 after acquiring an additional 3,787,075 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group cut their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. Morgan Stanley cut their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research report on Thursday, July 10th. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. 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 given a strong buy rating to the company's stock. According to MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $57.69.

Bristol Myers Squibb Trading Down 1.4%

BMY opened at $47.40 on Friday. Bristol Myers Squibb Company has a 52 week low of $41.90 and a 52 week high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The business has a fifty day simple moving average of $47.47 and a 200-day simple moving average of $52.91. The firm has a market cap of $96.46 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.44 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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 company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the company earned ($4.40) EPS. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

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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