Los Angeles Capital Management & Equity Research Inc. raised its position in Bristol-Myers Squibb Co (NYSE:BMY) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,036,169 shares of the biopharmaceutical company’s stock after purchasing an additional 135,605 shares during the quarter. Bristol-Myers Squibb accounts for approximately 0.7% of Los Angeles Capital Management & Equity Research Inc.’s portfolio, making the stock its 22nd largest holding. Los Angeles Capital Management & Equity Research Inc. owned about 0.12% of Bristol-Myers Squibb worth $126,405,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 412,476 shares of the biopharmaceutical company’s stock valued at $22,827,000 after buying an additional 10,456 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Bristol-Myers Squibb by 19.1% in the second quarter. Toronto Dominion Bank now owns 1,062,979 shares of the biopharmaceutical company’s stock valued at $58,813,000 after buying an additional 170,360 shares in the last quarter. Aperio Group LLC grew its stake in shares of Bristol-Myers Squibb by 9.9% in the third quarter. Aperio Group LLC now owns 928,404 shares of the biopharmaceutical company’s stock valued at $57,635,000 after buying an additional 83,708 shares in the last quarter. SFE Investment Counsel grew its stake in shares of Bristol-Myers Squibb by 8.6% in the third quarter. SFE Investment Counsel now owns 16,375 shares of the biopharmaceutical company’s stock valued at $1,017,000 after buying an additional 1,290 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Bristol-Myers Squibb by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,418 shares of the biopharmaceutical company’s stock valued at $6,830,000 after buying an additional 2,323 shares in the last quarter. Institutional investors own 72.54% of the company’s stock.
BMY has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on Bristol-Myers Squibb in a research note on Monday, October 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their price objective on Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, October 5th. Credit Suisse Group restated a “hold” rating and set a $61.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Finally, Atlantic Securities upgraded Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price objective for the company in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.48.
Shares of BMY opened at $52.81 on Friday. The company has a market capitalization of $83.81 billion, a PE ratio of 17.54, a PEG ratio of 1.43 and a beta of 1.08. The company has a quick ratio of 1.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. Bristol-Myers Squibb Co has a 52 week low of $46.94 and a 52 week high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.91 by $0.18. The company had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. Equities analysts expect that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, October 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. Bristol-Myers Squibb’s payout ratio is 53.16%.
Bristol-Myers Squibb 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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