Manning & Napier Advisors LLC Has $28.98 Million Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Manning & Napier Advisors LLC cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,080 shares of the biopharmaceutical company's stock after selling 34,284 shares during the period. Manning & Napier Advisors LLC's holdings in Bristol Myers Squibb were worth $28,975,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMY. Norges Bank acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $1,989,525,000. Ameriprise Financial Inc. increased 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 purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 purchasing an additional 10,913,708 shares during the period. Wellington Management Group LLP increased its holdings 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 purchasing an additional 5,827,317 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $257,618,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company's stock.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group decreased their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus target price of $58.00.

Bristol Myers Squibb Trading Up 0.2%

Shares of NYSE:BMY traded up $0.11 during midday trading on Monday, reaching $46.97. The company had a trading volume of 9,297,434 shares, compared to its average volume of 12,975,900. 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 Company has a 1-year low of $39.35 and a 1-year high of $63.33. The firm has a market cap of $95.59 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The company has a fifty day simple moving average of $48.20 and a two-hundred day simple moving average of $54.29.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share 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 business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the company posted ($4.40) EPS. Bristol Myers Squibb's revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 dividend on an annualized basis and a yield of 5.28%. Bristol Myers Squibb's payout ratio is presently 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.