Kavar Capital Partners LLC purchased a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,275 shares of the biopharmaceutical company’s stock, valued at approximately $194,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BMY. FMR LLC boosted its holdings in shares of Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after purchasing an additional 30,981,844 shares during the period. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $797,038,000. Janus Henderson Group PLC raised its stake in Bristol-Myers Squibb by 75.7% in the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after buying an additional 6,960,047 shares in the last quarter. Nordea Investment Management AB raised its stake in Bristol-Myers Squibb by 380.2% in the first quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after buying an additional 4,950,748 shares in the last quarter. Finally, Ronna Sue Cohen raised its stake in Bristol-Myers Squibb by 4,702.2% in the first quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock worth $1,518,000 after buying an additional 1,486,612 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.
BMY has been the subject of a number of recent research reports. Argus downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective for the company. in a research note on Monday, May 20th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, May 7th. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Goldman Sachs Group initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective for the company. Finally, ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.88.
Shares of BMY stock traded up $0.27 during trading hours on Thursday, reaching $45.91. 4,170,220 shares of the company’s stock were exchanged, compared to its average volume of 15,150,168. The business’s 50 day moving average price is $45.29. The stock has a market cap of $76.06 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.73. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $63.69.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Bristol-Myers Squibb Co will post 4.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is presently 41.21%.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the transaction, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Further Reading: What are convertible shares?
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.