PGGM Investments Acquires 4,114 Shares of Bristol-Myers Squibb (NYSE:BMY)

PGGM Investments grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 107,179 shares of the biopharmaceutical company’s stock after acquiring an additional 4,114 shares during the period. PGGM Investments’ holdings in Bristol-Myers Squibb were worth $4,451,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BMY. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. Norges Bank bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $1,560,524,000. Primecap Management Co. CA increased its position in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.86.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.60 during mid-day trading on Thursday, reaching $49.01. 6,301,721 shares of the company’s stock were exchanged, compared to its average volume of 15,869,894. The business’s fifty day simple moving average is $43.42 and its 200 day simple moving average is $46.59. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The firm has a market capitalization of $99.35 billion, a PE ratio of -15.80, a P/E/G ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.