Elo Mutual Pension Insurance Co Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Financial News Live · Aug 12, 2022 06:04

Elo Mutual Pension Insurance Co boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,571 shares of the biopharmaceutical company's stock after purchasing an additional 8,030 shares during the period. Elo Mutual Pension Insurance Co's holdings in Bristol-Myers Squibb were worth $12,749,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $1,413,962,000. California Public Employees Retirement System boosted its position in Bristol-Myers Squibb by 59.0% during the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company's stock valued at $859,676,000 after acquiring an additional 4,367,193 shares in the last quarter. Primecap Management Co. CA boosted its position in Bristol-Myers Squibb by 16.9% during the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company's stock valued at $1,378,836,000 after acquiring an additional 3,195,680 shares in the last quarter. Pzena Investment Management LLC boosted its position in Bristol-Myers Squibb by 213.7% during the 1st quarter. Pzena Investment Management LLC now owns 3,625,787 shares of the biopharmaceutical company's stock valued at $264,791,000 after acquiring an additional 2,470,079 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Bristol-Myers Squibb by 17.0% during the 4th quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company's stock valued at $958,504,000 after acquiring an additional 2,232,347 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

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Bristol-Myers Squibb Stock Down 0.3 %

BMY stock traded down $0.26 during midday trading on Thursday, hitting $74.60. The company's stock had a trading volume of 221,056 shares, compared to its average volume of 9,103,090. The company has a market cap of $159.29 billion, a PE ratio of 24.87, a P/E/G ratio of 1.59 and a beta of 0.40. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14. The firm's 50-day moving average is $74.94 and its 200-day moving average is $72.99.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.14. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. On average, equities research analysts forecast that Bristol-Myers Squibb will post 7.53 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. Bristol-Myers Squibb's dividend payout ratio is presently 71.76%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMY shares. Guggenheim lifted their price objective on Bristol-Myers Squibb from $72.00 to $80.00 in a research report on Monday, May 2nd. Raymond James cut Bristol-Myers Squibb from an "outperform" rating to a "market perform" rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. UBS Group boosted their price target on Bristol-Myers Squibb to $73.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Truist Financial boosted their price target on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.57.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the business's stock in a transaction on Monday, June 6th. The shares were sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the sale, the executive vice president now directly owns 308,627 shares in the company, valued at approximately $23,113,076.03. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Giovanni Caforio sold 30,000 shares of the company's stock in a transaction on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares in the company, valued at approximately $40,803,740.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sandra Leung sold 65,000 shares of the company's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total value of $4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company's stock, valued at $23,113,076.03. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Company Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; 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; and Orencia for adult patients with active RA and psoriatic arthritis.

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