Pictet Asset Management Ltd. Grows Position in Bristol-Myers Squibb Company (BMY)
Pictet Asset Management Ltd. increased its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,791,291 shares of the biopharmaceutical company’s stock after buying an additional 20,159 shares during the period. Pictet Asset Management Ltd. owned 0.11% of Bristol-Myers Squibb worth $96,641,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in Bristol-Myers Squibb by 54.0% in the first quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock worth $25,264,000 after buying an additional 162,884 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Bristol-Myers Squibb by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock worth $10,932,000 after buying an additional 3,833 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in Bristol-Myers Squibb in the first quarter worth approximately $6,150,000. Meridian Management Co. increased its holdings in Bristol-Myers Squibb by 1.5% in the first quarter. Meridian Management Co. now owns 51,770 shares of the biopharmaceutical company’s stock worth $2,815,000 after buying an additional 770 shares during the last quarter. Finally, Tobam increased its holdings in Bristol-Myers Squibb by 124.5% in the first quarter. Tobam now owns 793,714 shares of the biopharmaceutical company’s stock worth $43,163,000 after buying an additional 440,170 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average cost of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
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BMY has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, June 26th. BidaskClub upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, July 12th. Finally, Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 price objective on the stock in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $63.21.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at 63.65 on Tuesday. The stock has a 50 day moving average price of $62.78 and a 200 day moving average price of $56.98. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $66.10. The company has a market capitalization of $104.38 billion, a PE ratio of 23.25 and a beta of 1.19.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts predict that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is presently 56.73%.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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