AustralianSuper Pty Ltd Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

AustralianSuper Pty Ltd cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,942,380 shares of the biopharmaceutical company’s stock after selling 398,552 shares during the quarter. Bristol-Myers Squibb comprises 0.8% of AustralianSuper Pty Ltd’s holdings, making the stock its 28th largest position. AustralianSuper Pty Ltd owned 0.15% of Bristol-Myers Squibb worth $166,421,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC increased its stake in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $55.93 on Friday. The company has a market cap of $113.44 billion, a P/E ratio of -12.65, a P/E/G ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The company’s 50-day moving average price is $57.38 and its 200-day moving average price is $54.02. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Cantor Fitzgerald upped their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.86.

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.