W.E. Donoghue & Co. LLC purchased a new stake in Bristol-Myers Squibb Co (NYSE:BMY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 143,573 shares of the biopharmaceutical company’s stock, valued at approximately $6,511,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. FMR LLC boosted its stake in Bristol-Myers Squibb by 313.9% in the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after purchasing an additional 30,981,844 shares during the period. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $797,038,000. Nordea Investment Management AB boosted its stake in Bristol-Myers Squibb by 380.2% in the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock valued at $298,324,000 after purchasing an additional 4,950,748 shares during the period. Ronna Sue Cohen boosted its stake in Bristol-Myers Squibb by 4,702.2% in the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock valued at $1,518,000 after purchasing an additional 1,486,612 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Bristol-Myers Squibb by 96.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,783,732 shares of the biopharmaceutical company’s stock valued at $144,698,000 after purchasing an additional 1,363,900 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Shares of NYSE:BMY traded up $0.32 during trading on Friday, reaching $45.52. 791,449 shares of the company traded hands, compared to its average volume of 13,343,362. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. Bristol-Myers Squibb Co has a 52 week low of $42.48 and a 52 week high of $63.69. The company has a market capitalization of $74.34 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.21 and a beta of 0.71. The business’s 50 day moving average price is $45.69.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.60%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the transaction, the director now directly owns 27,000 shares in the company, valued at $1,276,830. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen Murphy Santiago sold 3,065 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total value of $145,771.40. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at $145,818.96. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
BMY has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. UBS Group cut their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $53.00 to $55.00 in a research report on Friday, May 3rd. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. Finally, Goldman Sachs Group began coverage on Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.45.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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