Lake Street Financial LLC Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Lake Street Financial LLC boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,579 shares of the biopharmaceutical company’s stock after purchasing an additional 490 shares during the period. Lake Street Financial LLC’s holdings in Bristol-Myers Squibb were worth $1,357,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMY. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,413,962,000. California Public Employees Retirement System lifted its stake in shares of Bristol-Myers Squibb by 59.0% in the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock valued at $859,676,000 after purchasing an additional 4,367,193 shares during the period. Primecap Management Co. CA increased its holdings in Bristol-Myers Squibb by 16.9% in the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock worth $1,378,836,000 after acquiring an additional 3,195,680 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Bristol-Myers Squibb by 213.7% in the 1st quarter. Pzena Investment Management LLC now owns 3,625,787 shares of the biopharmaceutical company’s stock worth $264,791,000 after acquiring an additional 2,470,079 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Bristol-Myers Squibb by 17.0% in the 4th quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock worth $958,504,000 after acquiring an additional 2,232,347 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th. UBS Group upped their target price on shares of Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Bank of America upped their target price on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Finally, Barclays upped their price objective on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.57.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $72.12 on Friday. The firm has a market capitalization of $153.99 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.53 and a beta of 0.40. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $80.59. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. The firm’s 50 day moving average is $75.00 and its two-hundred day moving average is $72.79.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 7.53 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio is presently 71.76%.

Insider Buying and Selling

In related news, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares of the company’s stock, valued at $40,803,740.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total value of $4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares of the company’s stock, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Profile

(Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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