Sound Shore Management Inc. CT Grows Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Sound Shore Management Inc. CT boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,425,166 shares of the biopharmaceutical company's stock after acquiring an additional 51,479 shares during the period. Bristol Myers Squibb accounts for 3.0% of Sound Shore Management Inc. CT's portfolio, making the stock its 14th largest position. Sound Shore Management Inc. CT owned 0.07% of Bristol Myers Squibb worth $86,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hamel Associates Inc. bought a new stake in Bristol Myers Squibb in the 1st quarter valued at $220,000. Advisor OS LLC lifted its position in Bristol Myers Squibb by 9.8% in the 1st quarter. Advisor OS LLC now owns 5,994 shares of the biopharmaceutical company's stock valued at $366,000 after acquiring an additional 537 shares in the last quarter. Kovack Advisors Inc. lifted its position in Bristol Myers Squibb by 2.6% in the 1st quarter. Kovack Advisors Inc. now owns 20,063 shares of the biopharmaceutical company's stock valued at $1,224,000 after acquiring an additional 515 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Bristol Myers Squibb by 3.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 124,286 shares of the biopharmaceutical company's stock valued at $7,580,000 after acquiring an additional 4,203 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in Bristol Myers Squibb by 11.0% during the 1st quarter. AE Wealth Management LLC now owns 68,260 shares of the biopharmaceutical company's stock worth $4,163,000 after buying an additional 6,754 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Morgan Stanley cut their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research report on Thursday, July 10th. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group lowered their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.53.

Bristol Myers Squibb Stock Down 1.2%

BMY stock traded down $0.59 during midday trading on Monday, hitting $47.85. The stock had a trading volume of 3,110,320 shares, compared to its average volume of 13,278,736. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market cap of $97.37 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36. The business has a 50-day moving average of $47.67 and a two-hundred day moving average of $52.59. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. Bristol Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.18%. The ex-dividend date 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.