Cambiar Investors LLC trimmed its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 684,465 shares of the biopharmaceutical company’s stock after selling 49,425 shares during the period. Cambiar Investors LLC’s holdings in Bristol-Myers Squibb were worth $41,944,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Renaissance Technologies LLC grew its stake in 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 valued at $751,563,000 after acquiring an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. grew its stake in 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 valued at $339,830,000 after acquiring an additional 3,960,191 shares during the last quarter. Jennison Associates LLC grew its stake in Bristol-Myers Squibb by 16.2% in the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after acquiring an additional 3,735,453 shares during the last quarter. Janus Henderson Group PLC grew its stake in 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 valued at $202,494,000 after acquiring an additional 3,516,536 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Bristol-Myers Squibb by 42,071.5% in 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 acquiring an additional 3,323,649 shares during the last quarter. 69.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total value of $335,172.00. Following the transaction, the executive vice president now owns 9,251 shares in the company, valued at $585,033.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore R. Samuels II purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $62.30 per share, for a total transaction of $249,200.00. Following the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $1,370,600. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. research analysts anticipate that Bristol-Myers Squibb Co will post 3.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were issued a dividend of $0.40 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 271.19%.
Several research firms have issued reports on BMY. Vetr cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $59.70 price target on the stock. in a research note on Friday, December 22nd. BMO Capital Markets set a $51.00 price target on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Wednesday, February 14th. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Credit Suisse Group set a $62.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday, January 22nd. Finally, Citigroup set a $78.00 price target on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $66.18.
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Bristol-Myers Squibb Profile
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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