Bristol Myers Squibb Company $BMY Stock: Ritholtz Wealth Management Boosts Stake

Ritholtz Wealth Management grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 31.6% in the third quarter, Holdings Channel reports. The institutional investor owned 223,042 shares of the biopharmaceutical company’s stock after purchasing an additional 53,567 shares during the period. Ritholtz Wealth Management’s holdings in Bristol Myers Squibb were worth $13,918,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BMY. BlackRock Inc. increased its stake in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after acquiring an additional 8,702,106 shares during the period. State Street Corp raised its holdings in Bristol Myers Squibb by 7.3% in the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after acquiring an additional 7,192,724 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bristol Myers Squibb by 0.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock worth $1,315,984,000 after acquiring an additional 119,690 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bristol Myers Squibb by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock worth $1,137,847,000 after purchasing an additional 520,330 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BMY shares. The Goldman Sachs Group upgraded Bristol Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. Cantor Fitzgerald cut their target price on Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bristol Myers Squibb in a research report on Monday, October 19th. Rothschild & Co Redburn lifted their price target on shares of Bristol Myers Squibb from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Daiwa Securities Group boosted their price target on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.46.

Insider Activity at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the sale, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia Haller sold 3,800 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the sale, the director directly owned 30,279 shares in the company, valued at approximately $1,916,963.49. This represents a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by company insiders.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $62.91 on Thursday. The firm has a market capitalization of $128.59 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79. Bristol Myers Squibb Company has a 12-month low of $45.26 and a 12-month high of $68.64. The firm has a 50-day moving average price of $62.09 and a 200 day moving average price of $60.23.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $12.72 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business 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. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.88%.

About Bristol Myers Squibb

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.