Putnam Investments LLC reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 37.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,709,477 shares of the biopharmaceutical company’s stock after selling 1,011,883 shares during the quarter. Putnam Investments LLC owned approximately 0.10% of Bristol-Myers Squibb worth $94,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DnB Asset Management AS lifted its stake in Bristol-Myers Squibb by 0.3% in the second quarter. DnB Asset Management AS now owns 321,762 shares of the biopharmaceutical company’s stock worth $17,806,000 after acquiring an additional 900 shares during the period. Mcmillion Capital Management Inc. lifted its stake in Bristol-Myers Squibb by 1.4% in the second quarter. Mcmillion Capital Management Inc. now owns 64,044 shares of the biopharmaceutical company’s stock worth $3,544,000 after acquiring an additional 903 shares during the period. Securian Asset Management Inc lifted its stake in Bristol-Myers Squibb by 0.5% in the second quarter. Securian Asset Management Inc now owns 167,108 shares of the biopharmaceutical company’s stock worth $9,248,000 after acquiring an additional 912 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Bristol-Myers Squibb by 4.9% in the second quarter. Itau Unibanco Holding S.A. now owns 19,840 shares of the biopharmaceutical company’s stock worth $1,096,000 after acquiring an additional 926 shares during the period. Finally, Gillespie Robinson & Grimm Inc. lifted its stake in Bristol-Myers Squibb by 12.3% in the second quarter. Gillespie Robinson & Grimm Inc. now owns 8,679 shares of the biopharmaceutical company’s stock worth $480,000 after acquiring an additional 950 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Shares of Bristol-Myers Squibb stock opened at $60.69 on Friday. The stock has a market capitalization of $98.61 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.52 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. Bristol-Myers Squibb Co has a one year low of $49.96 and a one year high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.48 billion. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. sell-side analysts anticipate that Bristol-Myers Squibb Co will post 3.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 53.16%.

A number of research firms recently weighed in on BMY. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Credit Suisse Group upped their price objective on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, June 21st. UBS Group lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Monday, May 21st. Finally, Jefferies Financial Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Sunday, July 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $62.89.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: Stock Symbol

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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