Bristol Myers Squibb Company $BMY Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,534 shares of the biopharmaceutical company’s stock after purchasing an additional 13,837 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bristol Myers Squibb were worth $7,771,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BMY. Davis Asset Management L.P. acquired a new position in Bristol Myers Squibb during the 2nd quarter valued at about $27,000. Addison Advisors LLC bought a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth about $32,000. Groupe la Francaise raised its position in shares of Bristol Myers Squibb by 562.9% during the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 501 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $35,000. Finally, Kilter Group LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $62.42 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79. The company’s 50-day moving average price is $61.99 and its two-hundred day moving average price is $60.27. Bristol Myers Squibb Company has a 52 week low of $45.26 and a 52 week high of $68.64. The stock has a market cap of $127.58 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results 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 net margin of 18.47% and a return on equity of 60.48%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the prior year, the company earned $1.63 EPS. Bristol Myers Squibb’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.46 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s payout ratio is presently 55.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bristol Myers Squibb in a report on Monday, October 19th. Morgan Stanley dropped their target price on Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating on the stock in a report on Friday, October 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 13th. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $65.46.

Key Bristol Myers Squibb News

Here’s some of the latest news about BMY:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Insider Activity at Bristol Myers Squibb

In related news, Director Julia Haller sold 3,800 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total transaction of $240,578.00. Following the completion of the sale, the director directly owned 30,279 shares of the company’s stock, valued at $1,916,963.49. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

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.