Sei Investments Co. Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Sei Investments Co. grew its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 467,084 shares of the biopharmaceutical company’s stock after acquiring an additional 15,573 shares during the quarter. Sei Investments Co.’s holdings in Bristol-Myers Squibb were worth $34,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Kempen Capital Management N.V. increased its holdings in shares of Bristol-Myers Squibb by 39.4% in the 1st quarter. Kempen Capital Management N.V. now owns 42,019 shares of the biopharmaceutical company’s stock valued at $3,069,000 after acquiring an additional 11,870 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Bristol-Myers Squibb by 82.9% during the 1st quarter. Vontobel Holding Ltd. now owns 1,777,643 shares of the biopharmaceutical company’s stock worth $131,048,000 after buying an additional 805,626 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bristol-Myers Squibb by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,772,753 shares of the biopharmaceutical company’s stock worth $1,005,908,000 after buying an additional 963,894 shares during the last quarter. Connolly Sarah T. grew its stake in Bristol-Myers Squibb by 55.3% during the 1st quarter. Connolly Sarah T. now owns 9,513 shares of the biopharmaceutical company’s stock worth $695,000 after buying an additional 3,388 shares during the last quarter. Finally, Cohen Lawrence B purchased a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $719,000. Hedge funds and other institutional investors own 76.54% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.9 %

BMY opened at $69.38 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The business has a 50 day simple moving average of $73.08 and a 200-day simple moving average of $73.85. The stock has a market capitalization of $148.14 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.46 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. Bristol-Myers Squibb’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 7.51 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 3.11%. Bristol-Myers Squibb’s dividend payout ratio is presently 71.76%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup restated a “buy” rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 17th. JPMorgan Chase & Co. increased their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. Atlantic Securities increased their price objective on Bristol-Myers Squibb from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, Bank of America increased their price objective on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.57.

Insider Buying and Selling

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the transaction, the chief executive officer now owns 551,104 shares of the company’s stock, valued at $40,803,740.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

About Bristol-Myers Squibb

(Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

See Also

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

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