Bristol-Myers Squibb (NYSE:BMY) Stake Raised by TIAA Trust National Association

TIAA Trust National Association increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 245.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,445 shares of the biopharmaceutical company’s stock after acquiring an additional 298,026 shares during the period. TIAA Trust National Association’s holdings in Bristol-Myers Squibb were worth $22,747,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $1,560,524,000. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $392,608,000. Pzena Investment Management LLC raised its stake in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after purchasing an additional 3,918,234 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BMY shares. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Barclays cut their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $59.07.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.25 during midday trading on Friday, reaching $42.64. The company’s stock had a trading volume of 12,839,934 shares, compared to its average volume of 16,336,650. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $65.38. The stock has a market cap of $86.44 billion, a P/E ratio of -13.75, a PEG ratio of 15.55 and a beta of 0.44. The company has a fifty day simple moving average of $41.68 and a 200 day simple moving average of $47.02. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the firm earned $2.05 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb will post 0.55 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.63%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.