Meeder Asset Management Inc. lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 741.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,479 shares of the biopharmaceutical company’s stock after buying an additional 128,182 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $9,183,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Prentiss Smith & Co. Inc. increased its holdings in shares of Bristol-Myers Squibb by 6.2% during the fourth quarter. Prentiss Smith & Co. Inc. now owns 9,731 shares of the biopharmaceutical company’s stock worth $604,000 after purchasing an additional 567 shares during the period. Wedbush Securities Inc. increased its position in shares of Bristol-Myers Squibb by 25.7% in the first quarter. Wedbush Securities Inc. now owns 56,670 shares of the biopharmaceutical company’s stock worth $3,578,000 after purchasing an additional 11,597 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Bristol-Myers Squibb by 84.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,314,801 shares of the biopharmaceutical company’s stock worth $83,005,000 after buying an additional 602,256 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Bristol-Myers Squibb by 11.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,172 shares of the biopharmaceutical company’s stock valued at $1,500,000 after buying an additional 2,556 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.2% during the 1st quarter. KLCM Advisors Inc. now owns 289,791 shares of the biopharmaceutical company’s stock worth $18,295,000 after acquiring an additional 8,904 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.
BMY has been the subject of several recent analyst reports. Morgan Stanley cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $70.00 to $62.00 in a research note on Friday. Truist raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Truist Securities upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $74.00 in a research report on Monday, April 19th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Tuesday, April 6th. Finally, Truist Financial upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, April 13th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $73.81.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Wednesday, April 28th. The biopharmaceutical company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.08). Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The business had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the business posted $1.72 EPS. Bristol-Myers Squibb’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.35 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Wednesday, March 31st. Bristol-Myers Squibb’s payout ratio is 41.79%.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the firm’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $62.20, for a total value of $1,555,000.00. Following the completion of the sale, the chief executive officer now directly owns 528,980 shares of the company’s stock, valued at $32,902,556. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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