Meiji Yasuda Asset Management Co Ltd. Boosts Stake in Bristol Myers Squibb Company $BMY

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 353.6% during the fourth quarter, Holdings Channel reports. The fund owned 71,011 shares of the biopharmaceutical company’s stock after purchasing an additional 55,355 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bristol Myers Squibb were worth $3,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Bristol Myers Squibb by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company’s stock worth $10,719,376,000 after acquiring an additional 2,743,759 shares during the period. State Street Corp grew its stake in shares of Bristol Myers Squibb by 2.0% in the 3rd quarter. State Street Corp now owns 96,595,232 shares of the biopharmaceutical company’s stock worth $4,356,445,000 after buying an additional 1,855,238 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bristol Myers Squibb by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 18,143,672 shares of the biopharmaceutical company’s stock worth $818,105,000 after buying an additional 1,873,618 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Bristol Myers Squibb by 8.4% in the 3rd quarter. Legal & General Group Plc now owns 17,075,743 shares of the biopharmaceutical company’s stock worth $770,116,000 after buying an additional 1,317,199 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Bristol Myers Squibb by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 14,901,604 shares of the biopharmaceutical company’s stock worth $672,062,000 after buying an additional 58,129 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Royal Bank Of Canada began coverage on Bristol Myers Squibb in a research note on Tuesday, February 24th. They issued a “sector perform” rating and a $60.00 price target on the stock. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. Guggenheim restated a “buy” rating and issued a $72.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. Barclays began coverage on Bristol Myers Squibb in a research note on Thursday, February 19th. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on Bristol Myers Squibb from $45.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.31.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the transaction, the executive vice president directly owned 159,248 shares of the company’s stock, valued at approximately $9,820,824.16. This represents a 15.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY stock opened at $59.51 on Friday. The stock has a market capitalization of $121.51 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.17 and a beta of 0.26. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $62.89. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10. The stock’s 50 day simple moving average is $58.46 and its 200 day simple moving average is $55.86.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $11.49 billion for the quarter, compared to analysts’ expectations of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.31 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Thursday, April 2nd were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.52 annualized dividend and a yield of 4.2%. Bristol Myers Squibb’s dividend payout ratio is 70.79%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.