Legal & General Group Plc Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

Legal & General Group Plc raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,225,040 shares of the biopharmaceutical company’s stock after acquiring an additional 735,613 shares during the period. Legal & General Group Plc owned approximately 1.00% of Bristol-Myers Squibb worth $839,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $42,000. Redmont Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth $46,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of Bristol-Myers Squibb stock opened at $50.12 on Friday. The business has a 50-day moving average price of $48.36 and a 200 day moving average price of $46.41. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $58.75. The firm has a market cap of $101.60 billion, a P/E ratio of -16.17, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. TD Cowen boosted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.