PGGM Investments Acquires 4,656 Shares of Bristol-Myers Squibb (NYSE:BMY)

PGGM Investments lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,065 shares of the biopharmaceutical company’s stock after acquiring an additional 4,656 shares during the quarter. PGGM Investments’ holdings in Bristol-Myers Squibb were worth $5,589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. PFG Advisors grew its stake in Bristol-Myers Squibb by 6.1% in the fourth quarter. PFG Advisors now owns 5,649 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 323 shares during the period. Trust Point Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth $904,000. Richard W. Paul & Associates LLC grew its stake in Bristol-Myers Squibb by 50.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 11,791 shares of the biopharmaceutical company’s stock worth $605,000 after purchasing an additional 3,973 shares during the period. GAM Holding AG grew its stake in Bristol-Myers Squibb by 115.3% in the fourth quarter. GAM Holding AG now owns 237,813 shares of the biopharmaceutical company’s stock worth $12,202,000 after purchasing an additional 127,363 shares during the period. Finally, Visionary Horizons LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth $643,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock traded up $0.60 during trading on Friday, reaching $48.77. The stock had a trading volume of 15,601,503 shares, compared to its average volume of 17,378,216. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. The stock’s 50 day moving average is $42.39 and its two-hundred day moving average is $46.75. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The firm has a market cap of $98.88 billion, a PE ratio of -15.73, a PEG ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company earned $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price on the stock. in a research note on Monday, July 29th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets cut their target price 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.79.

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.