OLD Republic International Corp raised its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 62.5% during the first quarter, Holdings Channel reports. The institutional investor owned 598,000 shares of the biopharmaceutical company’s stock after acquiring an additional 230,000 shares during the period. OLD Republic International Corp’s holdings in Bristol-Myers Squibb were worth $28,531,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Financial Gravity Wealth Inc. acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $26,000. Capital Financial Planning LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Well Done LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $30,000. Trust Department MB Financial Bank N A acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $32,000. Finally, Riverview Trust Co acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $33,000. 74.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:BMY opened at $47.43 on Wednesday. Bristol-Myers Squibb Co has a 1-year low of $44.30 and a 1-year high of $63.69. The company has a market cap of $76.63 billion, a PE ratio of 11.92, a PEG ratio of 2.19 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.79 and a debt-to-equity ratio of 0.37.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.
Several analysts have recently weighed in on BMY shares. Barclays raised Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $53.00 to $55.00 in a report on Friday, May 3rd. Bank of America set a $53.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Friday, January 25th. Zacks Investment Research raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Credit Suisse Group set a $59.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, February 4th. Finally, ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.88.
In related news, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total value of $145,771.40. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $47.29 per share, for a total transaction of $236,450.00. Following the purchase, the director now owns 27,000 shares in the company, valued at $1,276,830. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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