Bristol-Myers Squibb (NYSE:BMY) Stake Lifted by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,225,040 shares of the biopharmaceutical company’s stock after buying an additional 735,613 shares during the period. Legal & General Group Plc’s holdings in Bristol-Myers Squibb were worth $839,946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Traynor Capital Management Inc. lifted its position in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the last quarter. Paragon Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 222 shares during the last quarter. OmniStar Financial Group Inc. boosted its position in shares of Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after buying an additional 224 shares during the period. LGT Financial Advisors LLC increased its position in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. Finally, Bell Investment Advisors Inc raised its stake in Bristol-Myers Squibb by 18.1% during the 1st quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMY. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Finally, TD Cowen boosted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Trading Up 0.3 %

Shares of NYSE BMY opened at $50.12 on Friday. The business has a fifty day simple moving average of $48.36 and a 200-day simple moving average of $46.41. The company has a market cap of $101.60 billion, a price-to-earnings ratio of -16.17, a P/E/G ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $58.75. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.