1832 Asset Management L.P. Raises Position in Bristol-Myers Squibb Co (NYSE:BMY)
1832 Asset Management L.P. grew its position in Bristol-Myers Squibb Co (NYSE:BMY) by 83.6% during the 1st quarter, Holdings Channel reports. The fund owned 274,353 shares of the biopharmaceutical company’s stock after buying an additional 124,935 shares during the quarter. 1832 Asset Management L.P.’s holdings in Bristol-Myers Squibb were worth $14,856,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the company. Orser Capital Management LLC grew its holdings in Bristol-Myers Squibb by 78.9% during the fourth quarter. Orser Capital Management LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $319,000 after buying an additional 2,210 shares in the last quarter. Meitav Dash Investments Ltd. grew its stake in Bristol-Myers Squibb by 45.2% in the 4th quarter. Meitav Dash Investments Ltd. now owns 6,100 shares of the biopharmaceutical company’s stock valued at $391,000 after purchasing an additional 1,900 shares during the period. TCW Group Inc. grew its stake in Bristol-Myers Squibb by 45.9% in the 4th quarter. TCW Group Inc. now owns 49,702 shares of the biopharmaceutical company’s stock valued at $3,191,000 after purchasing an additional 15,643 shares during the period. Accident Compensation Corp bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $859,000. Finally, Summit Wealth & Retirement Planning Inc. grew its stake in Bristol-Myers Squibb by 99.8% in the 4th quarter. Summit Wealth & Retirement Planning Inc. now owns 12,816 shares of the biopharmaceutical company’s stock valued at $823,000 after purchasing an additional 6,401 shares during the period. 74.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:BMY traded down $1.15 on Friday, hitting $57.03. The company’s stock had a trading volume of 4,172,322 shares, compared to its average volume of 17,209,528. The company has a 50-day simple moving average of $60.09 and a 200 day simple moving average of $60.96. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $68.34. The company has a market capitalization of $130.69 billion, a PE ratio of 70.77, a PEG ratio of 1.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 6th will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.80 annualized dividend and a dividend yield of 3.16%. Bristol-Myers Squibb’s payout ratio is currently 38.38%.
BMY has been the topic of a number of recent research reports. TheStreet cut Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Monday, April 13th. Barclays initiated coverage on Bristol-Myers Squibb in a research report on Thursday, February 27th. They set an “equal weight” rating and a $69.00 price target on the stock. Bank of America reaffirmed a “buy” rating and set a $80.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, May 15th. William Blair reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Monday, June 1st. Finally, ValuEngine cut Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb has a consensus rating of “Buy” and an average price target of $68.00.
In other news, EVP Louis S. Schmukler sold 25,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam Dubow sold 3,200 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $61.01, for a total value of $195,232.00. Following the transaction, the senior vice president now owns 16,086 shares in the company, valued at $981,406.86. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
About Bristol-Myers Squibb
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.
Featured Article: Bear Market – How and Why They Occur
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.