Lindbrook Capital LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,367 shares of the biopharmaceutical company’s stock after selling 236 shares during the quarter. Lindbrook Capital LLC’s holdings in Bristol-Myers Squibb were worth $684,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in Bristol-Myers Squibb by 2.2% during the 4th quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock valued at $5,901,176,000 after purchasing an additional 2,020,678 shares during the period. Geode Capital Management LLC lifted its position in Bristol-Myers Squibb by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 37,863,099 shares of the biopharmaceutical company’s stock valued at $2,354,737,000 after purchasing an additional 922,811 shares during the period. Norges Bank acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,413,962,000. Primecap Management Co. CA lifted its position in Bristol-Myers Squibb by 16.9% during the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock valued at $1,378,836,000 after purchasing an additional 3,195,680 shares during the period. Finally, Nordea Investment Management AB lifted its position in Bristol-Myers Squibb by 20.8% during the 4th quarter. Nordea Investment Management AB now owns 18,130,455 shares of the biopharmaceutical company’s stock valued at $1,136,598,000 after purchasing an additional 3,124,811 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BMY opened at $76.84 on Friday. The stock has a market capitalization of $163.60 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.67 and a beta of 0.49. Bristol-Myers Squibb has a twelve month low of $53.22 and a twelve month high of $80.59. The company has a 50-day moving average of $76.10 and a 200-day moving average of $70.82. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 1.18.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.04. The company had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.74 EPS. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $2.16 annualized dividend and a dividend yield of 2.81%. Bristol-Myers Squibb’s dividend payout ratio is currently 76.60%.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of Bristol-Myers Squibb stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the transaction, the chief executive officer now directly owns 551,104 shares of the company’s stock, valued at $40,803,740.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sandra Leung sold 65,000 shares of Bristol-Myers Squibb stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the transaction, the executive vice president now directly owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on BMY. Bank of America increased their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 17th. Truist Financial increased their price target on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Finally, StockNews.com started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.27.
Bristol-Myers Squibb Company 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 reducing the 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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