Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 31.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 289,137 shares of the biopharmaceutical company’s stock after purchasing an additional 69,497 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Bristol-Myers Squibb were worth $13,112,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lodestar Investment Counsel LLC IL boosted its holdings in shares of Bristol-Myers Squibb by 5.2% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after buying an additional 5,579 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its position in shares of Bristol-Myers Squibb by 10.9% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 1,905 shares during the period. Stephens Inc. AR increased its position in shares of Bristol-Myers Squibb by 30.7% during the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after buying an additional 50,798 shares during the period. Nachman Norwood & Parrott Inc increased its position in shares of Bristol-Myers Squibb by 3.5% during the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after buying an additional 1,687 shares during the period. Finally, Edge Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 217.7% during the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock valued at $452,000 after buying an additional 6,857 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price target on the stock. Argus cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a research report on Monday, May 20th. UBS Group decreased their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, May 7th. Finally, ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.88.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Bristol-Myers Squibb’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is 41.21%.
In other news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.
About Bristol-Myers Squibb
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.
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