Sound Shore Management Inc. CT Has $86.92 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Sound Shore Management Inc. CT raised its stake in Bristol Myers Squibb Company (NYSE:BMY) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,425,166 shares of the biopharmaceutical company’s stock after acquiring an additional 51,479 shares during the period. Bristol Myers Squibb comprises about 3.0% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 14th largest position. Sound Shore Management Inc. CT owned 0.07% of Bristol Myers Squibb worth $86,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in BMY. Hamel Associates Inc. acquired a new stake in Bristol Myers Squibb in the first quarter worth $220,000. Advisor OS LLC boosted its holdings in shares of Bristol Myers Squibb by 9.8% during the 1st quarter. Advisor OS LLC now owns 5,994 shares of the biopharmaceutical company’s stock worth $366,000 after buying an additional 537 shares during the period. Kovack Advisors Inc. boosted its holdings in Bristol Myers Squibb by 2.6% in the 1st quarter. Kovack Advisors Inc. now owns 20,063 shares of the biopharmaceutical company’s stock valued at $1,224,000 after purchasing an additional 515 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Bristol Myers Squibb by 3.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 124,286 shares of the biopharmaceutical company’s stock valued at $7,580,000 after purchasing an additional 4,203 shares during the period. Finally, AE Wealth Management LLC raised its position in shares of Bristol Myers Squibb by 11.0% in the 1st quarter. AE Wealth Management LLC now owns 68,260 shares of the biopharmaceutical company’s stock valued at $4,163,000 after buying an additional 6,754 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Down 0.2%

Shares of NYSE:BMY traded down $0.10 during mid-day trading on Thursday, hitting $48.88. 1,344,718 shares of the company traded hands, compared to its average volume of 13,320,479. The firm has a market cap of $99.47 billion, a P/E ratio of 18.31, a PEG ratio of 2.51 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33. The firm’s 50 day simple moving average is $47.57 and its 200 day simple moving average is $52.76.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned ($4.40) EPS. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president directly owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several recent research reports. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, UBS Group reduced their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $58.53.

Bristol Myers Squibb 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.