Jennison Associates LLC decreased its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 34.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,446,314 shares of the biopharmaceutical company’s stock after selling 9,027,109 shares during the quarter. Jennison Associates LLC owned approximately 1.07% of Bristol-Myers Squibb worth $965,479,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Elkfork Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,495,000. Banco de Sabadell S.A acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,817,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Bristol-Myers Squibb by 44.3% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 93,868 shares of the biopharmaceutical company’s stock worth $5,752,000 after buying an additional 28,800 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 265,470 shares of the biopharmaceutical company’s stock worth $16,269,000 after buying an additional 1,900 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 7.7% during the fourth quarter. Northern Oak Wealth Management Inc. now owns 149,385 shares of the biopharmaceutical company’s stock worth $9,154,000 after buying an additional 10,652 shares in the last quarter. 71.39% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BMY opened at $59.31 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. Bristol-Myers Squibb Co has a 52 week low of $49.96 and a 52 week high of $70.05. The firm has a market capitalization of $97.30 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.50 and a beta of 1.02.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter last year, the business earned $0.74 earnings per share. Bristol-Myers Squibb’s revenue was up 10.9% on a year-over-year basis. equities analysts anticipate that Bristol-Myers Squibb Co will post 3.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Friday, July 6th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.
A number of equities research analysts have recently weighed in on the company. Atlantic Securities raised Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 target price for the company in a report on Wednesday. SunTrust Banks reissued a “buy” rating and set a $67.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, July 31st. Credit Suisse Group lifted their target price on Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. ValuEngine raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Jefferies Financial Group set a $58.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Sunday, July 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.11.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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