Bristol Myers Squibb Company $BMY Stock: Maryland State Retirement & Pension System Raises Stake

Maryland State Retirement & Pension System lifted its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,534 shares of the biopharmaceutical company’s stock after acquiring an additional 13,837 shares during the period. Maryland State Retirement & Pension System’s holdings in Bristol Myers Squibb were worth $7,771,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMY. BlackRock Inc. increased its stake in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after purchasing an additional 8,702,106 shares during the last quarter. State Street Corp raised its holdings in shares of 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 purchasing an additional 7,192,724 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Bristol Myers Squibb during the second quarter worth $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bristol Myers Squibb by 0.5% in the 2nd 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 worth $1,315,984,000 after buying an additional 119,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bristol Myers Squibb by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock worth $1,137,847,000 after buying an additional 520,330 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

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

Bristol Myers Squibb Stock Performance

BMY stock opened at $62.42 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59. The stock has a market capitalization of $127.58 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.32 and a beta of 0.20. Bristol Myers Squibb Company has a 1 year low of $45.26 and a 1 year high of $68.64. The stock’s fifty day moving average is $61.99 and its two-hundred day moving average is $60.27.

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

Bristol Myers Squibb Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, October 2nd. Bristol Myers Squibb’s payout ratio is presently 55.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BMY shares. TD Cowen assumed coverage on shares of Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a “buy” rating for the company. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 13th. Citigroup reissued a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Cantor Fitzgerald cut their target price on shares of Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Finally, Daiwa Securities Group lifted their target price on Bristol Myers Squibb from $53.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $65.46.

More Bristol Myers Squibb News

Investors following BMY have been watching these news items:

• 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

About Bristol Myers Squibb

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.