Boston Partners Decreases Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Boston Partners trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,866,114 shares of the biopharmaceutical company’s stock after selling 24,852 shares during the period. Boston Partners owned 0.19% of Bristol Myers Squibb worth $235,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $28,000. Global Wealth Strategies & Associates lifted its stake in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb in the first quarter worth about $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMY shares. Citigroup decreased their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $47.82 on Thursday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market cap of $97.33 billion, a P/E ratio of 19.28, a PEG ratio of 2.38 and a beta of 0.36. The company has a 50-day moving average price of $47.23 and a 200 day moving average price of $51.66. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last announced 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 business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the business earned $2.07 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.2%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Bristol Myers Squibb Company 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.