Cubist Systematic Strategies LLC Reduces Stake in Bristol-Myers Squibb Co (NYSE:BMY)

Cubist Systematic Strategies LLC reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 34.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,377 shares of the biopharmaceutical company’s stock after selling 16,275 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Bristol-Myers Squibb were worth $1,681,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BMY. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $101,000. Institutional & Family Asset Management LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $106,000. Centerpoint Advisors LLC grew its stake in Bristol-Myers Squibb by 373.1% during the 1st quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 1,399 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $113,000. Finally, Landaas & Co. WI ADV acquired a new stake in Bristol-Myers Squibb during the 2nd quarter valued at approximately $131,000. Institutional investors and hedge funds own 72.28% of the company’s stock.

BMY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday. Atlantic Securities upgraded Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price objective for the company in a research note on Wednesday, August 8th. Jefferies Financial Group set a $58.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Sunday, July 15th. BMO Capital Markets restated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Sunday, July 22nd. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $61.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.95.

Shares of NYSE BMY opened at $62.90 on Tuesday. The company has a market capitalization of $101.47 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.70 and a beta of 0.98. Bristol-Myers Squibb Co has a 12-month low of $49.96 and a 12-month high of $70.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 1.40.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.14. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, research analysts forecast that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 53.16%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: What is the Dividend Aristocrat Index?

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.

Leave a Reply