Cornerstone Capital Management Holdings LLC. raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 347,968 shares of the biopharmaceutical company’s stock after acquiring an additional 12,626 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Bristol-Myers Squibb were worth $21,322,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Renaissance Technologies LLC raised its position in Bristol-Myers Squibb by 108.5% during the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the last quarter. BlackRock Inc. raised its position in Bristol-Myers Squibb by 5.0% during the 4th quarter. BlackRock Inc. now owns 104,293,294 shares of the biopharmaceutical company’s stock worth $6,391,093,000 after purchasing an additional 4,945,515 shares during the last quarter. Jennison Associates LLC raised its position in Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after purchasing an additional 3,735,453 shares during the last quarter. Janus Henderson Group PLC raised its position in Bristol-Myers Squibb by 2,990.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the last quarter. 71.51% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on BMY. Citigroup set a $78.00 target price on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, February 16th. Jefferies Group set a $72.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, February 26th. TheStreet lowered Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research report on Thursday, March 8th. DZ Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Argus reaffirmed a “buy” rating and set a $66.43 target price (down from $75.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, March 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $66.68.
BMY stock opened at $60.88 on Monday. Bristol-Myers Squibb has a 1-year low of $51.56 and a 1-year high of $70.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.43. The stock has a market capitalization of $99,391.66, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.58 and a beta of 0.96.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a return on equity of 35.43% and a net margin of 4.85%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. analysts expect that Bristol-Myers Squibb will post 3.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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