Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its stake in Bristol Myers Squibb by 113.2%, acquiring 104,854 shares for a total of 197,466 shares valued at $11.85 million.
• Several large investors, including Ameriprise Financial and DZ BANK AG, significantly boosted their holdings in Bristol Myers Squibb during the fourth quarter, indicating strong institutional interest in the company.
• Despite recently reporting earnings that exceeded estimates, Bristol Myers Squibb's stock has experienced price target reductions from analysts, reflecting mixed sentiment about its market performance.

Mediolanum International Funds Ltd boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 113.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,466 shares of the biopharmaceutical company's stock after buying an additional 104,854 shares during the quarter. Mediolanum International Funds Ltd's holdings in Bristol Myers Squibb were worth $11,852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. 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 worth $2,593,940,000 after buying an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Bristol Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after buying an additional 1,187,231 shares during the last quarter. 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 worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the last quarter. Finally, 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 worth $1,394,677,000 after buying an additional 3,431,248 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research reports. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, UBS Group reduced their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $58.53.

Bristol Myers Squibb Stock Performance

NYSE BMY traded down $0.35 on Wednesday, hitting $46.51. The stock had a trading volume of 2,689,481 shares, compared to its average volume of 13,220,267. Bristol Myers Squibb Company has a one year low of $44.00 and a one year 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 stock has a market cap of $94.64 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 2.50 and a beta of 0.36. The company's 50-day moving average is $47.65 and its two-hundred day moving average is $52.49.

Bristol Myers Squibb Announces Dividend

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