Bristol-Myers Squibb Co (NYSE:BMY) Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 68.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,071,711 shares of the biopharmaceutical company’s stock after acquiring an additional 435,314 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $48,602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its stake in Bristol-Myers Squibb by 313.9% during the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after acquiring an additional 30,981,844 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Bristol-Myers Squibb by 75.7% during the 2nd quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock valued at $732,691,000 after acquiring an additional 6,960,047 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Bristol-Myers Squibb by 1.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,251,891 shares of the biopharmaceutical company’s stock worth $328,873,000 after buying an additional 78,260 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Bristol-Myers Squibb by 380.2% in the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after buying an additional 4,950,748 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Bristol-Myers Squibb by 14.3% in the 1st quarter. California Public Employees Retirement System now owns 5,118,016 shares of the biopharmaceutical company’s stock worth $244,181,000 after buying an additional 642,267 shares during the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Shares of BMY stock traded up $1.23 during trading hours on Friday, reaching $46.98. The stock had a trading volume of 9,425,900 shares, compared to its average volume of 15,176,157. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. Bristol-Myers Squibb Co has a twelve month low of $42.48 and a twelve month high of $63.69. The firm has a 50-day simple moving average of $45.33 and a 200-day simple moving average of $47.45. The firm has a market capitalization of $76.85 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.49%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.

In other news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the acquisition, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

BMY has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Wednesday. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $53.00 to $55.00 in a research report on Friday, May 3rd. Goldman Sachs Group initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.88.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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