TRU Independence Asset Management 2 LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, Holdings Channel reports. The fund acquired 989 shares of the biopharmaceutical company’s stock, valued at approximately $61,000.
Several other large investors have also bought and sold shares of BMY. Principal Financial Group Inc. increased its stake in Bristol-Myers Squibb by 27.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,684,936 shares of the biopharmaceutical company’s stock worth $290,607,000 after acquiring an additional 1,006,280 shares during the last quarter. Eaton Vance Management raised its position in Bristol-Myers Squibb by 2.8% in the fourth quarter. Eaton Vance Management now owns 3,468,699 shares of the biopharmaceutical company’s stock valued at $215,163,000 after purchasing an additional 93,349 shares during the period. Bessemer Group Inc. grew its stake in shares of Bristol-Myers Squibb by 15.0% in the fourth quarter. Bessemer Group Inc. now owns 2,639,320 shares of the biopharmaceutical company’s stock valued at $163,716,000 after buying an additional 343,869 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Bristol-Myers Squibb by 2.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,579,666 shares of the biopharmaceutical company’s stock worth $160,017,000 after acquiring an additional 69,438 shares in the last quarter. Finally, AMF Pensionsforsakring AB boosted its holdings in Bristol-Myers Squibb by 18.6% during the 4th quarter. AMF Pensionsforsakring AB now owns 2,475,546 shares of the biopharmaceutical company’s stock valued at $153,747,000 after acquiring an additional 387,874 shares during the period. 72.41% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on BMY shares. TheStreet downgraded shares of Bristol-Myers Squibb from a “b” rating to a “c” rating in a research report on Monday, March 8th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 15th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.07.
NYSE:BMY opened at $62.06 on Thursday. The company has a market cap of $138.64 billion, a P/E ratio of -564.13, a P/E/G ratio of 1.00 and a beta of 0.67. The firm’s 50 day moving average is $61.76 and its two-hundred day moving average is $65.68. Bristol-Myers Squibb has a fifty-two week low of $54.07 and a fifty-two week high of $67.16. The company has a quick ratio of 1.58, a current ratio of 1.67 and a debt-to-equity ratio of 0.82.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.04. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The business had revenue of $11.07 billion for the quarter, compared to analyst estimates of $10.74 billion. During the same period last year, the company posted $1.22 EPS. The business’s quarterly revenue was up 39.3% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 6.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Thursday, April 1st will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, March 31st. Bristol-Myers Squibb’s payout ratio is currently 41.79%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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