Prudential PLC Buys 26,981 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Prudential PLC boosted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,748 shares of the biopharmaceutical company’s stock after purchasing an additional 26,981 shares during the quarter. Prudential PLC’s holdings in Bristol Myers Squibb were worth $17,672,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after buying an additional 13,959 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $16,651,000. Avaii Wealth Management LLC lifted its holdings in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after acquiring an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after acquiring an additional 869 shares during the last quarter. Finally, Shorepoint Capital Partners LLC lifted its holdings in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after acquiring an additional 1,248 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on BMY shares. Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Jefferies Financial Group cut their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $45.91 on Tuesday. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The business has a 50-day moving average of $47.26 and a 200-day moving average of $51.72. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $93.45 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.35 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.