Bristol Myers Squibb Company $BMY Stock: Russell Investments Group Ltd. Lowers Holdings

Russell Investments Group Ltd. lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,074,093 shares of the biopharmaceutical company’s stock after selling 141,330 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Bristol Myers Squibb worth $254,928,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BMY. PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in shares of Bristol Myers Squibb by 6.4% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 233,660 shares of the biopharmaceutical company’s stock valued at $14,580,000 after acquiring an additional 13,968 shares in the last quarter. R Squared Ltd bought a new stake in Bristol Myers Squibb during the third quarter worth about $328,000. King Luther Capital Management Corp boosted its position in Bristol Myers Squibb by 1.7% during the third quarter. King Luther Capital Management Corp now owns 606,134 shares of the biopharmaceutical company’s stock valued at $37,823,000 after purchasing an additional 9,890 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Bristol Myers Squibb by 12.5% during the third quarter. Maryland State Retirement & Pension System now owns 124,534 shares of the biopharmaceutical company’s stock valued at $7,771,000 after purchasing an additional 13,837 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in Bristol Myers Squibb by 31.6% in the third quarter. Ritholtz Wealth Management now owns 223,042 shares of the biopharmaceutical company’s stock valued at $13,918,000 after purchasing an additional 53,567 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. UBS Group lowered Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Truist Financial set a $70.00 target price on shares of Bristol Myers Squibb in a report on Friday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $76.00 price target on shares of Bristol Myers Squibb in a research report on Monday, October 12th. Finally, Rothschild & Co Redburn increased their price target on shares of Bristol Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.46.

Latest Bristol Myers Squibb News

These are some of the BMY news items that stood out recently:

• 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

Bristol Myers Squibb Trading Down 0.8%

BMY opened at $62.42 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $127.58 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.32 and a beta of 0.20. The company has a 50-day simple moving average of $61.99 and a 200 day simple moving average of $60.27. Bristol Myers Squibb Company has a twelve month low of $45.26 and a twelve month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating the consensus estimate 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 business had revenue of $13.07 billion during 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 revenue was up 6.9% on a year-over-year basis. Analysts predict that Bristol Myers Squibb Company will post 6.46 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, Director Julia Haller sold 3,800 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the transaction, the director directly owned 30,279 shares in the company, valued at approximately $1,916,963.49. This trade 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 can be accessed through this link. Also, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb Profile

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.