GQG Partners LLC Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

GQG Partners LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 66.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,225 shares of the biopharmaceutical company’s stock after buying an additional 6,856 shares during the quarter. GQG Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,151,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Family Management Corp increased its position in shares of Bristol-Myers Squibb by 2.9% in the 1st quarter. Family Management Corp now owns 49,613 shares of the biopharmaceutical company’s stock valued at $3,132,000 after purchasing an additional 1,377 shares during the last quarter. ProShare Advisors LLC raised its stake in Bristol-Myers Squibb by 16.4% during the 2nd quarter. ProShare Advisors LLC now owns 422,937 shares of the biopharmaceutical company’s stock worth $28,261,000 after acquiring an additional 59,611 shares in the last quarter. Biondo Investment Advisors LLC boosted its stake in Bristol-Myers Squibb by 5.0% in the second quarter. Biondo Investment Advisors LLC now owns 96,114 shares of the biopharmaceutical company’s stock valued at $6,422,000 after acquiring an additional 4,608 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 8.7% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 20,395 shares of the biopharmaceutical company’s stock valued at $1,363,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new position in Bristol-Myers Squibb during the second quarter worth approximately $8,692,000. Hedge funds and other institutional investors own 72.10% of the company’s stock.

NYSE BMY traded up $0.99 on Thursday, hitting $58.06. The stock had a trading volume of 227,789 shares, compared to its average volume of 10,687,207. The company’s 50-day moving average is $63.68 and its two-hundred day moving average is $65.03. The stock has a market cap of $129.02 billion, a price-to-earnings ratio of -25.14, a P/E/G ratio of 1.20 and a beta of 0.61. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. Bristol-Myers Squibb has a one year low of $56.66 and a one year high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The business had revenue of $11.70 billion for the quarter, compared to analysts’ expectations of $11.24 billion. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 1st will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.38%. Bristol-Myers Squibb’s payout ratio is presently 30.43%.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $60.64, for a total transaction of $1,516,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David V. Elkins sold 99,691 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $66.95, for a total value of $6,674,312.45. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

Several research firms have commented on BMY. Barclays reduced their price objective on Bristol-Myers Squibb from $71.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, October 8th. TheStreet downgraded shares of Bristol-Myers Squibb from a “b” rating to a “c+” rating in a report on Wednesday, September 22nd. Berenberg Bank cut their price objective on Bristol-Myers Squibb from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Monday. Truist assumed coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price objective for the company. Finally, Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 28th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $72.42.

About Bristol-Myers Squibb

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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