Bristol-Myers Squibb (NYSE:BMY) Position Lifted by Strategic Blueprint LLC

Posted by Defense World Staff on Jul 20th, 2023

Strategic Blueprint LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,851 shares of the biopharmaceutical company’s stock after purchasing an additional 563 shares during the period. Strategic Blueprint LLC’s holdings in Bristol-Myers Squibb were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC lifted its stake in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. Boston Partners boosted its holdings in Bristol-Myers Squibb by 35.7% in the fourth quarter. Boston Partners now owns 13,794,089 shares of the biopharmaceutical company’s stock worth $992,048,000 after purchasing an additional 3,627,705 shares during the period. Nordea Investment Management AB increased its stake in Bristol-Myers Squibb by 7.7% during the first quarter. Nordea Investment Management AB now owns 12,074,501 shares of the biopharmaceutical company’s stock valued at $833,986,000 after purchasing an additional 863,174 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,207,099 shares of the biopharmaceutical company’s stock worth $806,351,000 after purchasing an additional 70,887 shares during the period. Institutional investors and hedge funds own 74.57% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $62.06 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 1.10. The business’s 50-day moving average price is $64.74 and its 200 day moving average price is $68.28. Bristol-Myers Squibb has a 52-week low of $61.40 and a 52-week high of $81.43. The firm has a market cap of $130.38 billion, a P/E ratio of 18.09, a PEG ratio of 1.27 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Thursday, April 27th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Bristol-Myers Squibb had a net margin of 15.95% and a return on equity of 51.75%. The firm had revenue of $11.34 billion during the quarter, compared to analysts’ expectations of $11.50 billion. During the same period last year, the firm posted $1.96 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 8.05 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, July 6th. This represents a $2.28 annualized dividend and a yield of 3.67%. Bristol-Myers Squibb’s payout ratio is presently 66.47%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Rupert Vessey sold 50,385 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $67.06, for a total value of $3,378,818.10. Following the completion of the sale, the executive vice president now owns 47,751 shares in the company, valued at approximately $3,202,182.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Daiwa Capital Markets assumed coverage on Bristol-Myers Squibb in a research report on Wednesday, June 28th. They set an “outperform” rating and a $70.00 price target on the stock. 51job restated a “maintains” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 28th. SVB Securities initiated coverage on Bristol-Myers Squibb in a research report on Monday, July 10th. They issued a “market perform” rating and a $66.00 target price on the stock. Finally, Bank of America boosted their price target on shares of Bristol-Myers Squibb from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $74.19.

Bristol-Myers Squibb Profile

(Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.