Bristol Myers Squibb Company (NYSE:BMY) Stake Raised by Marietta Investment Partners LLC

Key Points

• Marietta Investment Partners LLC significantly increased its stake in Bristol Myers Squibb by purchasing 66,978 shares, raising its ownership by 826.9% during the first quarter.
• The company recently reported a quarterly EPS of $1.80, exceeding analyst expectations, though its revenue declined by 5.6% year-over-year.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share with an annualized yield of 5.12%, set to be paid on August 1st.

Marietta Investment Partners LLC increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 826.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,078 shares of the biopharmaceutical company's stock after purchasing an additional 66,978 shares during the quarter. Bristol Myers Squibb makes up about 1.1% of Marietta Investment Partners LLC's portfolio, making the stock its 28th largest holding. Marietta Investment Partners LLC's holdings in Bristol Myers Squibb were worth $4,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after buying an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Bristol Myers Squibb in the fourth quarter worth $13,094,000. Ausdal Financial Partners Inc. increased its holdings in Bristol Myers Squibb by 5.4% during the fourth quarter. Ausdal Financial Partners Inc. now owns 7,334 shares of the biopharmaceutical company's stock valued at $415,000 after buying an additional 373 shares during the last quarter. NEOS Investment Management LLC grew its stake in Bristol Myers Squibb by 31.7% during the fourth quarter. NEOS Investment Management LLC now owns 124,182 shares of the biopharmaceutical company's stock valued at $7,024,000 after acquiring an additional 29,869 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $577,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. 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. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Morgan Stanley reduced their price objective on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Finally, Cantor Fitzgerald restated 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 investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have assigned 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 price target of $58.53.

Bristol Myers Squibb Stock Performance

BMY traded down $0.30 during trading on Wednesday, reaching $46.57. 4,032,357 shares of the company were exchanged, compared to its average volume of 13,230,047. Bristol Myers Squibb Company has a 52 week low of $44.00 and a 52 week high of $63.33. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a 50 day moving average of $47.65 and a 200 day moving average of $52.49. The stock has a market cap of $94.76 billion, a P/E ratio of 17.45, a PEG ratio of 2.50 and a beta of 0.36.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Bristol Myers Squibb 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.