Prudential PLC Has $17.67 Million Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Prudential PLC lifted its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 10.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,748 shares of the biopharmaceutical company’s stock after purchasing an additional 26,981 shares during the period. Prudential PLC’s holdings in Bristol Myers Squibb were worth $17,672,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BMY. Brighton Jones LLC increased its stake in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Bristol Myers Squibb during the fourth quarter valued at about $13,094,000. Sagespring Wealth Partners LLC bought a new position in Bristol Myers Squibb during the fourth quarter valued at about $892,000. Summit Investment Advisors Inc. increased its stake in Bristol Myers Squibb by 19.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 62,260 shares of the biopharmaceutical company’s stock valued at $3,521,000 after acquiring an additional 10,299 shares during the period. Finally, Keystone Financial Group bought a new position in Bristol Myers Squibb during the fourth quarter valued at about $229,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Down 0.1%

Shares of BMY stock opened at $45.91 on Tuesday. The firm has a 50 day moving average price of $47.26 and a two-hundred day moving average price of $51.72. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $93.45 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Jefferies Financial Group reduced their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.38.

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.