Public Employees Retirement Association of Colorado cut its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,414,156 shares of the biopharmaceutical company’s stock after selling 19,558 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.09% of Bristol-Myers Squibb worth $90,138,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after buying an additional 7,020,200 shares during the period. Franklin Resources Inc. grew its position in shares of Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after buying an additional 3,960,191 shares during the period. Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after buying an additional 3,516,536 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after purchasing an additional 3,323,649 shares during the last quarter. Finally, BlackRock Inc. grew its position in Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after purchasing an additional 2,367,864 shares during the last quarter. Institutional investors and hedge funds own 69.66% of the company’s stock.
In other news, EVP Sandra Leung sold 156,582 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now owns 584,373 shares in the company, valued at approximately $37,031,717.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $585,033.24. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. sell-side analysts forecast that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, January 4th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 61.42%.
Several analysts recently commented on the stock. Barclays increased their price objective on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a research report on Monday, October 16th. BMO Capital Markets set a $49.00 price objective on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Thursday, October 12th. Leerink Swann increased their price objective on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup increased their price objective on shares of Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.42.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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