Wellington Management Group LLP Has $7.77 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wellington Management Group LLP lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,188 shares of the biopharmaceutical company’s stock after selling 16,518 shares during the quarter. Wellington Management Group LLP’s holdings in Bristol-Myers Squibb were worth $7,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Worldquant Millennium Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 84.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 553,656 shares of the biopharmaceutical company’s stock worth $28,646,000 after purchasing an additional 253,040 shares during the last quarter. State Street Corp lifted its stake in shares of Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after acquiring an additional 1,451,214 shares during the period. Stevens Capital Management LP bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $1,474,000. Stifel Financial Corp boosted its stake in shares of Bristol-Myers Squibb by 6.4% in the 3rd quarter. Stifel Financial Corp now owns 1,991,717 shares of the biopharmaceutical company’s stock valued at $103,051,000 after purchasing an additional 119,469 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Bristol-Myers Squibb by 63.2% in the third quarter. Quantinno Capital Management LP now owns 198,804 shares of the biopharmaceutical company’s stock valued at $10,286,000 after buying an additional 76,976 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $55.78 on Monday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a 50-day moving average of $55.86 and a 200-day moving average of $49.40. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a market cap of $113.13 billion, a P/E ratio of -15.54, a P/E/G ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.45%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.29.

Bristol-Myers Squibb Profile

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.