Bristol Myers Squibb Company $BMY Stock: Pzena Investment Management LLC Lowers Holdings

Pzena Investment Management LLC cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,244,839 shares of the biopharmaceutical company’s stock after selling 2,762,205 shares during the period. Bristol Myers Squibb comprises approximately 2.6% of Pzena Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Pzena Investment Management LLC owned 0.70% of Bristol Myers Squibb worth $888,878,000 at the end of the most recent quarter.

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

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the sale, the senior vice president owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by insiders.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $64.21 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59. Bristol Myers Squibb Company has a fifty-two week low of $45.26 and a fifty-two week high of $68.64. The company has a 50 day simple moving average of $62.53 and a two-hundred day simple moving average of $60.03. The company has a market capitalization of $131.26 billion, a PE ratio of 14.24, a P/E/G ratio of 0.32 and a beta of 0.20.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.72 billion. During the same quarter in the previous year, the company earned $1.63 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were issued a $0.63 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a yield of 3.9%. Bristol Myers Squibb’s payout ratio is presently 55.88%.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Piper Sandler lowered their price target on shares of Bristol Myers Squibb from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Wells Fargo & Company cut their price objective on Bristol Myers Squibb from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, October 12th. Citigroup reaffirmed a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Finally, TD Cowen assumed coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and an average price target of $65.46.

Bristol Myers Squibb Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.