Dearborn Partners LLC increased its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,540 shares of the biopharmaceutical company’s stock after purchasing an additional 1,025 shares during the quarter. Dearborn Partners LLC’s holdings in Bristol-Myers Squibb were worth $561,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its position in shares of Bristol-Myers Squibb by 1.5% during the 1st quarter. Legal & General Group Plc now owns 15,448,871 shares of the biopharmaceutical company’s stock valued at $861,533,000 after purchasing an additional 234,035 shares during the period. Capital World Investors raised its position in shares of Bristol-Myers Squibb by 4.7% during the 1st quarter. Capital World Investors now owns 13,307,482 shares of the biopharmaceutical company’s stock valued at $741,759,000 after purchasing an additional 601,947 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Bristol-Myers Squibb by 12.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,790,913 shares of the biopharmaceutical company’s stock valued at $651,830,000 after purchasing an additional 1,263,572 shares during the period. Swiss National Bank raised its position in shares of Bristol-Myers Squibb by 22.9% during the 1st quarter. Swiss National Bank now owns 9,213,588 shares of the biopharmaceutical company’s stock valued at $513,565,000 after purchasing an additional 1,718,900 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Bristol-Myers Squibb by 1.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,281,866 shares of the biopharmaceutical company’s stock valued at $350,151,000 after purchasing an additional 69,345 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.
A number of analysts have issued reports on BMY shares. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a report on Thursday, April 16th. William Blair reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Monday, June 1st. Cfra reiterated a “buy” rating and issued a $70.00 price target on shares of Bristol-Myers Squibb in a report on Sunday, July 26th. Seaport Global Securities started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Raymond James started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Bristol-Myers Squibb has an average rating of “Buy” and a consensus price target of $68.93.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.23. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The firm had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.04 billion. During the same period in the previous year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 82.1% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb Co will post 6.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.07%. Bristol-Myers Squibb’s dividend payout ratio is presently 38.38%.
In related news, SVP Adam Dubow sold 3,200 shares of Bristol-Myers Squibb stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.01, for a total transaction of $195,232.00. Following the completion of the transaction, the senior vice president now directly owns 16,086 shares of the company’s stock, valued at approximately $981,406.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dinesh C. Paliwal acquired 9,174 shares of the stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $54.50 per share, with a total value of $499,983.00. Following the completion of the transaction, the director now owns 22,109 shares in the company, valued at $1,204,940.50. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by 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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