Convergence Investment Partners LLC Has $1.28 Million Position in Bristol-Myers Squibb Co (NYSE:BMY)

Share on StockTwits

Convergence Investment Partners LLC lifted its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,767 shares of the biopharmaceutical company’s stock after purchasing an additional 1,988 shares during the period. Convergence Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,280,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BMY. Swiss National Bank lifted its stake in shares of Bristol-Myers Squibb by 22.9% in the 1st quarter. Swiss National Bank now owns 9,213,588 shares of the biopharmaceutical company’s stock valued at $513,565,000 after purchasing an additional 1,718,900 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Bristol-Myers Squibb by 12.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,790,913 shares of the biopharmaceutical company’s stock valued at $651,830,000 after purchasing an additional 1,263,572 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Bristol-Myers Squibb by 37.3% in the 1st quarter. First Trust Advisors LP now owns 3,402,759 shares of the biopharmaceutical company’s stock valued at $189,670,000 after purchasing an additional 923,686 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $50,654,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bristol-Myers Squibb by 22,016.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,650 shares of the biopharmaceutical company’s stock valued at $45,687,000 after purchasing an additional 815,944 shares during the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and issued a $80.00 target price on shares of Bristol-Myers Squibb in a report on Friday, May 15th. ValuEngine downgraded shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $68.00 to $88.00 in a report on Tuesday, June 2nd. Cfra restated a “buy” rating and set a $70.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday, July 26th. Finally, Raymond James initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday. They set an “outperform” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.93.

Shares of BMY stock traded down $0.21 during trading hours on Friday, hitting $58.66. 10,439,919 shares of the company were exchanged, compared to its average volume of 9,155,796. The business has a 50 day moving average of $58.18 and a two-hundred day moving average of $60.16. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86. Bristol-Myers Squibb Co has a 52 week low of $44.00 and a 52 week high of $68.34. The company has a market capitalization of $132.73 billion, a PE ratio of 72.42, a PEG ratio of 1.12 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.23. Bristol-Myers Squibb had a net margin of 3.08% and a return on equity of 30.06%. The business had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.04 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was up 82.1% on a year-over-year basis. On average, research analysts forecast that Bristol-Myers Squibb Co will post 6.18 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, July 2nd. Bristol-Myers Squibb’s dividend payout ratio is currently 38.38%.

In other Bristol-Myers Squibb news, SVP Adam Dubow sold 3,200 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $61.01, for a total value of $195,232.00. Following the completion of the sale, the senior vice president now owns 16,086 shares in the company, valued at $981,406.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Louis S. Schmukler sold 25,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the completion of the sale, the executive vice president now owns 26,777 shares of the company’s stock, valued at approximately $1,678,382.36. The disclosure for this sale can be found here. Company insiders own 0.14% 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.

See Also: What is an inverted yield curve?

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).

Institutional Ownership by Quarter for Bristol-Myers Squibb (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.