Ethic Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 27.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,736 shares of the biopharmaceutical company’s stock after acquiring an additional 11,449 shares during the period. Ethic Inc.’s holdings in Bristol-Myers Squibb were worth $3,924,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BMY. Mizuho Securities Co. Ltd. grew its position in Bristol-Myers Squibb by 239.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 239 shares in the last quarter. Spectrum Management Group LLC grew its position in Bristol-Myers Squibb by 113.1% in the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Nauset Wealth Management. LLC bought a new position in Bristol-Myers Squibb in the first quarter valued at $27,000. Conrad Siegel Investment Advisors Inc. bought a new position in Bristol-Myers Squibb in the first quarter valued at $28,000. Finally, Evolution Advisers Inc. bought a new position in Bristol-Myers Squibb in the first quarter valued at $29,000. Institutional investors own 76.54% of the company’s stock.
Analyst Upgrades and Downgrades
BMY has been the subject of a number of analyst reports. Raymond James downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Atlantic Securities lifted their price objective on shares of Bristol-Myers Squibb from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Citigroup reissued a “buy” rating and issued a $90.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. UBS Group lifted their price objective on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.57.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.50 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.51 EPS for the current year.
Bristol-Myers Squibb Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 71.76%.
Insiders Place Their Bets
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of Bristol-Myers Squibb stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the sale, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Profile
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.
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