BlueMountain Capital Management LLC trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 42.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 141,346 shares of the biopharmaceutical company’s stock after selling 105,286 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $7,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. BlackRock Inc. lifted its holdings in shares of Bristol-Myers Squibb by 7.2% during the 2nd quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock valued at $6,193,296,000 after buying an additional 7,517,623 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Bristol-Myers Squibb by 114.5% during the 2nd quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock valued at $383,119,000 after buying an additional 3,695,485 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at $134,854,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Bristol-Myers Squibb by 154.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,900,564 shares of the biopharmaceutical company’s stock valued at $105,177,000 after buying an additional 1,153,130 shares during the period. Finally, CIBC World Markets Inc. lifted its holdings in shares of Bristol-Myers Squibb by 363.6% during the 2nd quarter. CIBC World Markets Inc. now owns 1,296,369 shares of the biopharmaceutical company’s stock valued at $71,741,000 after buying an additional 1,016,753 shares during the period. 72.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BMY stock opened at $60.94 on Friday. Bristol-Myers Squibb Co has a 52-week low of $49.96 and a 52-week high of $70.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $98.97 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a return on equity of 42.58% and a net margin of 1.74%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 10.9% compared to the same quarter last year. analysts expect that Bristol-Myers Squibb Co will post 3.62 EPS for the current year.
Several equities analysts have recently weighed in on BMY shares. Atlantic Securities raised Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target on the stock in a report on Wednesday, August 8th. SunTrust Banks restated a “buy” rating and issued a $67.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, July 31st. Jefferies Financial Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Sunday, July 15th. UBS Group lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Monday, May 21st. Finally, BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $47.00 to $51.00 and gave the stock a “market perform” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.11.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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