Eurizon Capital SGR S.p.A. Sells 240,580 Shares of Bristol Myers Squibb Company $BMY

Eurizon Capital SGR S.p.A. trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 19.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 989,716 shares of the biopharmaceutical company’s stock after selling 240,580 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Bristol Myers Squibb were worth $61,816,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its position in shares of Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after buying an additional 8,702,106 shares in the last quarter. State Street Corp raised its holdings in Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after acquiring an additional 7,192,724 shares in the last quarter. Primecap Management Co. CA acquired a new stake in Bristol Myers Squibb in the second quarter valued at $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bristol Myers Squibb by 0.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock valued at $1,315,984,000 after acquiring an additional 119,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bristol Myers Squibb by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after acquiring an additional 520,330 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BMY shares. Weiss Ratings raised shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. UBS Group cut shares of Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. Leerink Partners downgraded Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $73.00 to $59.00 in a research note on Monday, October 5th. Morgan Stanley lowered their price objective on Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, October 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a $76.00 price objective on shares of Bristol Myers Squibb in a research note on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $65.46.

Trending Headlines about Bristol Myers Squibb

Investors following BMY have been watching these headlines:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $62.42 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.59 and a quick ratio of 1.44. Bristol Myers Squibb Company has a 12 month low of $45.26 and a 12 month high of $68.64. The company has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $60.27. The company has a market cap of $127.58 billion, a PE ratio of 13.84, a P/E/G ratio of 0.32 and a beta of 0.20.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Bristol Myers Squibb Company will post 6.46 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were paid a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio is 55.88%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julia Haller sold 3,800 shares of Bristol Myers Squibb stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the transaction, the director owned 30,279 shares of the company’s stock, valued at approximately $1,916,963.49. The trade was a 11.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.