Profund Advisors LLC Cuts Stock Holdings in Bristol-Myers Squibb Co (NYSE:BMY)
Profund Advisors LLC decreased its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,170 shares of the biopharmaceutical company’s stock after selling 10,046 shares during the quarter. Profund Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,865,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in Bristol-Myers Squibb by 313.9% in the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after buying an additional 30,981,844 shares during the last quarter. Renaissance Technologies LLC grew its stake in Bristol-Myers Squibb by 67.6% in the second quarter. Renaissance Technologies LLC now owns 20,698,607 shares of the biopharmaceutical company’s stock worth $938,682,000 after purchasing an additional 8,347,432 shares during the period. Janus Henderson Group PLC grew its stake in Bristol-Myers Squibb by 75.7% in the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after purchasing an additional 6,960,047 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Bristol-Myers Squibb by 4.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,428,553 shares of the biopharmaceutical company’s stock worth $608,985,000 after purchasing an additional 593,222 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bristol-Myers Squibb by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,251,891 shares of the biopharmaceutical company’s stock worth $328,873,000 after purchasing an additional 78,260 shares during the period. 80.27% of the stock is owned by institutional investors.
In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now directly owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts predict that Bristol-Myers Squibb Co will post 4.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
Several equities research analysts recently weighed in on BMY shares. ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research note on Monday, August 26th. Bank of America increased their target price on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They issued a “buy” rating and a $54.00 target price on the stock. Argus cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research note on Monday, May 20th. Finally, Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $55.74.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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