New York State Teachers Retirement System raised its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,104,838 shares of the biopharmaceutical company’s stock after buying an additional 2,171 shares during the period. New York State Teachers Retirement System’s holdings in Bristol-Myers Squibb were worth $228,361,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BMY. Jolley Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares in the last quarter. Univest Corp of Pennsylvania acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $202,000. Windsor Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $205,000. Verus Financial Partners Inc. acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $218,000. Finally, Grubman Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth $225,000. Institutional investors and hedge funds own 72.88% of the company’s stock.
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.94% on Friday, hitting $49.77. The stock had a trading volume of 13,848,384 shares. The firm has a market capitalization of $83.16 billion, a P/E ratio of 29.11 and a beta of 0.74. The company has a 50 day moving average of $55.09 and a 200-day moving average of $66.31. Bristol-Myers Squibb Co. has a 12-month low of $49.12 and a 12-month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the business posted $0.53 EPS. Bristol-Myers Squibb’s revenue was up 17.2% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 3.05%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
A number of analysts recently issued reports on the company. Jefferies Group lifted their price objective on Bristol-Myers Squibb from $77.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 13th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research report on Monday, July 25th. Finally, SunTrust Banks Inc. cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $86.00 to $68.00 in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.31.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the completion of the sale, the director now directly owns 364,999 shares in the company, valued at $21,596,990.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.