Bristol Myers Squibb Company (NYSE:BMY) Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in Bristol Myers Squibb Company by 10.3%, acquiring an additional 26,981 shares in the first quarter, raising its total holdings to 289,748 shares valued at $17.67 million.
• Multiple analysts have recently downgraded their price targets for Bristol Myers Squibb stock, with Citigroup reducing its target from $51 to $47 and changing its rating to "neutral."
• Bristol Myers Squibb reported $1.46 EPS in its latest earnings, surpassing estimates, while the company declared a quarterly dividend of $0.62 per share, reflecting a dividend yield of 5.4%.

Prudential PLC grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,748 shares of the biopharmaceutical company's stock after purchasing an additional 26,981 shares during the quarter. Prudential PLC's holdings in Bristol Myers Squibb were worth $17,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb during the fourth quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates raised its holdings in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Jefferies Financial Group lowered their target price on shares of 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. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Citigroup lowered their target price on shares of 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. Finally, Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.64 during midday trading on Friday, hitting $48.45. 11,206,898 shares of the stock were exchanged, compared to its average volume of 12,717,643. The stock has a market cap of $98.62 billion, a P/E ratio of 19.54, a PEG ratio of 2.44 and a beta of 0.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a 50 day moving average price of $47.23 and a 200-day moving average price of $51.50.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

About Bristol Myers Squibb

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.