38,461 Bristol Myers Squibb Company $BMY Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,121,700 shares of the biopharmaceutical company’s stock after selling 38,461 shares during the period. Fifth Third Bancorp’s holdings in Bristol Myers Squibb were worth $69,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Bristol Myers Squibb by 5.1% in the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after buying an additional 8,702,106 shares during the last quarter. State Street Corp grew its holdings in Bristol Myers Squibb by 7.3% during the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after acquiring an additional 7,192,724 shares during the period. Primecap Management Co. CA purchased a new position in Bristol Myers Squibb during the second quarter valued at approximately $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bristol Myers Squibb by 0.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock valued at $1,315,984,000 after acquiring an additional 119,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Bristol Myers Squibb by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after acquiring an additional 520,330 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb News Roundup

Here’s some of the latest news about BMY:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Bristol Myers Squibb Stock Down 0.8%

Shares of NYSE BMY opened at $62.42 on Friday. The company’s 50-day simple moving average is $61.99 and its 200-day simple moving average is $60.27. Bristol Myers Squibb Company has a 52-week low of $45.26 and a 52-week high of $68.64. The firm has a market cap of $127.58 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.72 billion. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. Equities analysts predict that Bristol Myers Squibb Company will post 6.46 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s payout ratio is 55.88%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Guggenheim reissued a “buy” rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Rothschild & Co Redburn raised their price objective on shares of Bristol Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 13th. Zacks Research cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Finally, Raymond James Financial began coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a “strong-buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.46.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julia A. Haller sold 3,800 shares of Bristol Myers Squibb stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the sale, the director directly owned 30,279 shares in the company, valued at $1,916,963.49. This represents a 11.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.