M&G PLC lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 14.8% during the third quarter, HoldingsChannel reports. The firm owned 4,507,982 shares of the biopharmaceutical company’s stock after selling 784,247 shares during the quarter. Bristol Myers Squibb accounts for 1.4% of M&G PLC’s holdings, making the stock its 15th largest position. M&G PLC’s holdings in Bristol Myers Squibb were worth $279,495,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Davis Asset Management L.P. bought a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth $27,000. Addison Advisors LLC bought a new position in Bristol Myers Squibb in the second quarter valued at about $32,000. Groupe la Francaise grew its position in Bristol Myers Squibb by 562.9% in the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 501 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Bristol Myers Squibb during the second quarter worth about $35,000. Finally, Kilter Group LLC acquired a new position in Bristol Myers Squibb during the second quarter worth about $35,000. Institutional investors own 76.41% of the company’s stock.
Wall Street Analyst Weigh In
BMY has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Citigroup reaffirmed a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Wells Fargo & Company lowered their price objective on shares of Bristol Myers Squibb from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Daiwa Securities Group increased their price objective on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.46.
Check Out Our Latest Analysis on Bristol Myers Squibb
Bristol Myers Squibb Price Performance
Bristol Myers Squibb stock opened at $62.16 on Tuesday. The stock has a 50-day moving average price of $62.25 and a two-hundred day moving average price of $60.15. Bristol Myers Squibb Company has a 12 month low of $45.26 and a 12 month high of $68.64. The company has a market capitalization of $127.06 billion, a PE ratio of 13.78, a P/E/G ratio of 0.33 and a beta of 0.20. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79.
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that Bristol Myers Squibb Company will post 6.45 EPS for the current year.
Bristol Myers Squibb Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a yield of 4.1%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 55.88%.
Insider Activity at Bristol Myers Squibb
In other news, Director Julia A. Haller sold 3,800 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total transaction of $240,578.00. Following the completion of the transaction, the director owned 30,279 shares of the company’s stock, valued at approximately $1,916,963.49. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.
Bristol Myers Squibb Company Profile
Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease.
The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.
Bristol Myers Squibb was formed in 1989 through the merger of Bristol-Myers, founded in 1887, and the E.
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