Bristol-Myers Squibb (BMY) Stake Lowered by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 31,901 shares of the biopharmaceutical company’s stock after selling 5,504 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Bristol-Myers Squibb were worth $2,018,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Bristol-Myers Squibb by 5.0% during the fourth quarter. BlackRock Inc. now owns 104,293,294 shares of the biopharmaceutical company’s stock worth $6,391,093,000 after purchasing an additional 4,945,515 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Bristol-Myers Squibb by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 18,855,413 shares of the biopharmaceutical company’s stock valued at $1,201,843,000 after purchasing an additional 1,335,290 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 18,583,469 shares of the biopharmaceutical company’s stock valued at $1,136,568,000 after purchasing an additional 777,929 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bristol-Myers Squibb by 31.9% in the fourth quarter. Renaissance Technologies LLC now owns 14,302,900 shares of the biopharmaceutical company’s stock valued at $876,482,000 after purchasing an additional 3,456,300 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Bristol-Myers Squibb by 30.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 10,932,722 shares of the biopharmaceutical company’s stock worth $669,957,000 after acquiring an additional 2,573,967 shares in the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb opened at $52.71 on Friday, Marketbeat.com reports. Bristol-Myers Squibb has a 52-week low of $49.96 and a 52-week high of $70.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.52 and a quick ratio of 1.39. The stock has a market cap of $86.16 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.32 and a beta of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Bristol-Myers Squibb had a net margin of 4.37% and a return on equity of 37.56%. Bristol-Myers Squibb’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. analysts forecast that Bristol-Myers Squibb will post 3.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Friday, April 6th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. Bristol-Myers Squibb’s payout ratio is 53.16%.

In other Bristol-Myers Squibb news, Director Dinesh C. Paliwal bought 4,770 shares of the stock in a transaction on Monday, April 30th. The shares were acquired at an average price of $52.40 per share, with a total value of $249,948.00. Following the acquisition, the director now directly owns 8,027 shares of the company’s stock, valued at approximately $420,614.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

Several research firms have issued reports on BMY. ValuEngine lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Thursday, April 26th. Barclays reduced their price target on Bristol-Myers Squibb from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, April 27th. BMO Capital Markets raised Bristol-Myers Squibb from an “underperform” rating to a “market perform” rating in a report on Friday, April 27th. Finally, Cowen reaffirmed a “hold” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a report on Friday, April 20th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $63.68.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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

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