Comerica Bank Decreases Stake in Bristol-Myers Squibb Co (BMY)

Comerica Bank lowered its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 14.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 513,226 shares of the biopharmaceutical company’s stock after selling 85,565 shares during the quarter. Comerica Bank’s holdings in Bristol-Myers Squibb were worth $25,996,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Bristol-Myers Squibb by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,094,134 shares of the biopharmaceutical company’s stock worth $195,704,000 after acquiring an additional 225,999 shares in the last quarter. DnB Asset Management AS lifted its position in Bristol-Myers Squibb by 0.3% during the 2nd quarter. DnB Asset Management AS now owns 321,762 shares of the biopharmaceutical company’s stock worth $17,806,000 after acquiring an additional 900 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Bristol-Myers Squibb by 44.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 73,860 shares of the biopharmaceutical company’s stock worth $4,087,000 after acquiring an additional 22,871 shares in the last quarter. Fisher Asset Management LLC lifted its position in Bristol-Myers Squibb by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 581,310 shares of the biopharmaceutical company’s stock worth $32,170,000 after acquiring an additional 4,229 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Bristol-Myers Squibb by 9.9% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,306 shares of the biopharmaceutical company’s stock worth $2,452,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

BMY has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Bristol-Myers Squibb from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. Credit Suisse Group reissued a “hold” rating and set a $61.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, September 12th. Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $62.00 to $57.00 in a research report on Monday, October 22nd. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Finally, Atlantic Securities raised Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target on the stock in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $62.42.

Shares of BMY opened at $50.69 on Friday. Bristol-Myers Squibb Co has a 52-week low of $46.94 and a 52-week high of $70.05. The company has a market capitalization of $82.74 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.72 billion. Sell-side analysts expect that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Friday, October 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, October 4th. Bristol-Myers Squibb’s payout ratio is 53.16%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: Balanced Fund

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

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