Verity Asset Management Inc. Boosts Stake in Bristol Myers Squibb Company (NYSE:BMY)

Verity Asset Management Inc. grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 104.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,138 shares of the biopharmaceutical company's stock after acquiring an additional 18,931 shares during the quarter. Bristol Myers Squibb comprises 0.9% of Verity Asset Management Inc.'s portfolio, making the stock its 24th biggest position. Verity Asset Management Inc.'s holdings in Bristol Myers Squibb were worth $2,265,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BMY. Norges Bank acquired a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. raised its position in Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares during the period. Wellington Management Group LLP boosted its position in shares of Bristol Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after buying an additional 5,827,317 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $257,618,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $46.34 on Monday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a fifty day moving average price of $47.90 and a two-hundred day moving average price of $53.91. The company has a market cap of $94.31 billion, a PE ratio of 17.36, a P/E/G ratio of 1.37 and a beta of 0.38.

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

Bristol Myers Squibb Announces Dividend

The business 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 5.35%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Jefferies Financial Group cut 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 report on Wednesday, April 23rd. Finally, UBS Group lowered their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.00.

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.

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