Sector Gamma AS raised its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 1,386,722 shares of the biopharmaceutical company’s stock after purchasing an additional 35,000 shares during the quarter. Bristol-Myers Squibb makes up about 11.9% of Sector Gamma AS’s investment portfolio, making the stock its largest position. Sector Gamma AS’s holdings in Bristol-Myers Squibb were worth $70,321,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of BMY. Vanguard Group Inc. boosted its holdings in Bristol-Myers Squibb by 1.2% during the second quarter. Vanguard Group Inc. now owns 134,058,636 shares of the biopharmaceutical company’s stock worth $6,079,559,000 after buying an additional 1,580,750 shares in the last quarter. BlackRock Inc. boosted its holdings in Bristol-Myers Squibb by 6.7% during the second quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock worth $5,206,108,000 after buying an additional 7,178,698 shares in the last quarter. Invesco Ltd. boosted its holdings in Bristol-Myers Squibb by 40.4% during the second quarter. Invesco Ltd. now owns 24,012,686 shares of the biopharmaceutical company’s stock worth $1,088,974,000 after buying an additional 6,915,526 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Bristol-Myers Squibb by 67.6% during the second quarter. Renaissance Technologies LLC now owns 20,698,607 shares of the biopharmaceutical company’s stock worth $938,682,000 after buying an additional 8,347,432 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Bristol-Myers Squibb by 75.7% during the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after buying an additional 6,960,047 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.
A number of analysts recently issued reports on the stock. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a report on Wednesday, August 14th. Bank of America assumed coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 16th. They set a “buy” rating and a $60.00 price target on the stock. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Wolfe Research set a $66.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Buy” and an average price target of $56.64.
BMY traded up $0.44 during midday trading on Friday, hitting $58.02. 11,418,626 shares of the company traded hands, compared to its average volume of 12,766,524. The company has a current ratio of 3.83, a quick ratio of 3.72 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $91.88 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.31 and a beta of 0.71. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $58.46. The business has a 50 day simple moving average of $52.90 and a two-hundred day simple moving average of $48.19.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.11. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb Co will post 4.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.
In other news, SVP John E. Elicker sold 15,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total value of $849,900.00. Following the completion of the sale, the senior vice president now directly owns 74,471 shares in the company, valued at $4,219,526.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Louis S. Schmukler sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the completion of the sale, the insider now owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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