Neuberger Berman Group LLC Trims Position in Bristol-Myers Squibb Company (BMY)
Neuberger Berman Group LLC lowered its position in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 11.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,033,665 shares of the biopharmaceutical company’s stock after selling 534,651 shares during the period. Neuberger Berman Group LLC owned about 0.25% of Bristol-Myers Squibb worth $224,756,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BMY. Ameriprise Financial Inc. grew its position in Bristol-Myers Squibb by 18.7% during the 1st 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 during the last quarter. Swiss National Bank grew its position in Bristol-Myers Squibb by 27.2% during the 1st 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 during the last quarter. State Street Corp grew its position in Bristol-Myers Squibb by 1.8% during the 1st 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 during the last quarter. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 5.4% during the 2nd 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 during the last quarter. Finally, Harbour Capital Advisors LLC grew its position in Bristol-Myers Squibb by 5,377.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,189,789 shares of the biopharmaceutical company’s stock worth $21,353,000 after acquiring an additional 1,168,066 shares during the last quarter. Institutional investors and hedge funds own 69.51% of the company’s stock.
Bristol-Myers Squibb Company (NYSE BMY) opened at $60.86 on Monday. The stock has a market capitalization of $99,609.57, a PE ratio of 20.56, a PEG ratio of 2.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. sell-side analysts predict that Bristol-Myers Squibb Company will post 2.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 61.42%.
BMY has been the topic of a number of research reports. Deutsche Bank AG set a $55.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 17th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 price objective on the stock. in a research report on Tuesday, July 25th. BMO Capital Markets restated an “underperform” rating and set a $47.00 price objective (down previously from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Piper Jaffray Companies set a $60.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Leerink Swann reduced their price target on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.93.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.
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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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