Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Bristol Myers Squibb by 10.4% during the first quarter, bringing its total to approximately 3.15 million shares valued at $192.34 million.
• Bristol Myers Squibb reported earnings of $1.46 per share in the latest quarter, exceeding the consensus estimate of $1.07, with revenues of $12.27 billion.
• The stock received a mixed response from analysts, with ratings ranging from a strong buy to a sell, and an average target price of $56.38.

Russell Investments Group Ltd. boosted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,156,972 shares of the biopharmaceutical company's stock after acquiring an additional 296,321 shares during the period. Russell Investments Group Ltd. owned 0.16% of Bristol Myers Squibb worth $192,341,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock worth $78,580,000 after acquiring an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $16,651,000. Avaii Wealth Management LLC lifted its position in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after purchasing an additional 67,221 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after purchasing an additional 869 shares during the period. Finally, Shorepoint Capital Partners LLC lifted its position in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock worth $3,305,000 after purchasing an additional 1,248 shares during the period. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY traded up $0.64 during trading hours on Friday, hitting $48.45. The stock had a trading volume of 11,206,898 shares, compared to its average volume of 12,717,643. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a 50-day moving average price of $47.23 and a 200 day moving average price of $51.50. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $98.62 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.44 and a beta of 0.36.

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

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Jefferies Financial Group decreased their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus price target of $56.38.

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.