Sompo Japan Nipponkoa Asset Management CO. LTD. Buys 1,830 Shares of Bristol-Myers Squibb Co (NYSE:BMY)

Sompo Japan Nipponkoa Asset Management CO. LTD. grew its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,850 shares of the biopharmaceutical company’s stock after acquiring an additional 1,830 shares during the period. Bristol-Myers Squibb accounts for 1.6% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings, making the stock its 22nd biggest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Bristol-Myers Squibb were worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Lodestar Investment Counsel LLC IL boosted its stake in shares of Bristol-Myers Squibb by 5.2% during the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after purchasing an additional 5,579 shares in the last quarter. Perella Weinberg Partners Capital Management LP boosted its stake in shares of Bristol-Myers Squibb by 10.9% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 1,905 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Bristol-Myers Squibb by 30.7% during the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after purchasing an additional 50,798 shares in the last quarter. Nachman Norwood & Parrott Inc boosted its stake in shares of Bristol-Myers Squibb by 3.5% during the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after purchasing an additional 1,687 shares in the last quarter. Finally, Edge Wealth Management LLC boosted its stake in shares of Bristol-Myers Squibb by 217.7% during the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock valued at $452,000 after purchasing an additional 6,857 shares in the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.

A number of equities analysts have recently issued reports on BMY shares. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Tuesday, May 7th. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $53.00 to $55.00 in a research note on Friday, May 3rd. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research note on Wednesday. ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Finally, Argus cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $55.88.

In related news, Director Robert J. Bertolini purchased 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

NYSE:BMY traded up $1.23 during midday trading on Friday, reaching $46.98. 9,425,900 shares of the stock traded hands, compared to its average volume of 15,176,157. Bristol-Myers Squibb Co has a 12-month low of $42.48 and a 12-month high of $63.69. The business has a 50-day moving average of $45.33 and a two-hundred day moving average of $47.45. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The stock has a market capitalization of $76.85 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.41 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.49%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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