Korea Investment CORP increased its position in Bristol-Myers Squibb Co (NYSE:BMY) by 4.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,277,982 shares of the biopharmaceutical company’s stock after acquiring an additional 58,700 shares during the period. Korea Investment CORP’s holdings in Bristol-Myers Squibb were worth $57,956,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in BMY. FMR LLC increased its holdings in Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after buying an additional 30,981,844 shares during the last quarter. Janus Henderson Group PLC boosted its position in Bristol-Myers Squibb by 75.7% during the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock worth $732,691,000 after purchasing an additional 6,960,047 shares during the period. Nordea Investment Management AB boosted its position in Bristol-Myers Squibb by 380.2% during the first quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after purchasing an additional 4,950,748 shares during the period. PGGM Investments bought a new stake in Bristol-Myers Squibb during the second quarter worth approximately $49,045,000. Finally, River Road Asset Management LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth approximately $37,822,000. Hedge funds and other institutional investors own 80.27% of the company’s stock.
Shares of BMY traded down $0.04 during mid-day trading on Wednesday, hitting $48.00. The company’s stock had a trading volume of 323,887 shares, compared to its average volume of 10,721,695. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $63.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The firm has a market capitalization of $78.63 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. The stock’s 50-day moving average is $46.10 and its two-hundred day moving average is $47.26.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.12. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. Analysts expect that Bristol-Myers Squibb Co will post 4.28 EPS for the current fiscal year.
A number of brokerages have issued reports on BMY. Atlantic Securities raised Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a research report on Wednesday, August 14th. ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. UBS Group decreased their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, June 13th. Argus cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price for the company. in a research report on Monday, May 20th. Finally, Bank of America upped their target price on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $55.74.
In other news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the purchase, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
Bristol-Myers Squibb 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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