GAM Holding AG Trims Stake in Bristol-Myers Squibb Company (BMY)
GAM Holding AG trimmed its position in Bristol-Myers Squibb Company (NYSE:BMY) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 378,948 shares of the biopharmaceutical company’s stock after selling 28,740 shares during the quarter. GAM Holding AG’s holdings in Bristol-Myers Squibb were worth $21,115,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of BMY. State Street Corp grew its position in Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after acquiring an additional 1,223,457 shares in the last quarter. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 5.4% in the second quarter. Jennison Associates LLC now owns 23,118,789 shares of the biopharmaceutical company’s stock worth $1,288,179,000 after acquiring an additional 1,184,652 shares in the last quarter. Ameriprise Financial Inc. grew its position in Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after acquiring an additional 2,451,390 shares in the last quarter. Legal & General Group Plc grew its position in Bristol-Myers Squibb by 2.7% in the second quarter. Legal & General Group Plc now owns 8,431,348 shares of the biopharmaceutical company’s stock worth $469,802,000 after acquiring an additional 217,920 shares in the last quarter. Finally, Swiss National Bank grew its position in Bristol-Myers Squibb by 27.2% in the first quarter. Swiss National Bank now owns 5,921,670 shares of the biopharmaceutical company’s stock worth $322,020,000 after acquiring an additional 1,267,900 shares in the last quarter. 68.93% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts recently commented on the company. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 price target for the company. in a research report on Tuesday, August 22nd. Citigroup Inc. set a $72.00 price target on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Wednesday, October 25th. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Thursday, October 26th. Deutsche Bank AG set a $55.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 17th. Finally, Credit Suisse Group set a $58.00 price target on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $64.93.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at $62.22 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $101,835.48, a P/E ratio of 21.02, a P/E/G ratio of 2.45 and a beta of 1.18. Bristol-Myers Squibb Company has a twelve month low of $46.01 and a twelve month high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. research analysts expect that Bristol-Myers Squibb Company will post 2.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 61.42%.
Bristol-Myers Squibb 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.
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