Bristol Myers Squibb Company $BMY Stock: Pzena Investment Management LLC Reduces Holdings

Pzena Investment Management LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 16.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,244,839 shares of the biopharmaceutical company’s stock after selling 2,762,205 shares during the period. Bristol Myers Squibb accounts for about 2.6% of Pzena Investment Management LLC’s portfolio, making the stock its 13th largest position. Pzena Investment Management LLC’s holdings in Bristol Myers Squibb were worth $888,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC increased its holdings in shares of Bristol Myers Squibb by 23.7% during the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company’s stock valued at $116,693,000 after acquiring an additional 368,193 shares in the last quarter. Callan Family Office LLC bought a new position in shares of Bristol Myers Squibb in the 2nd quarter worth $3,575,000. Saudi Central Bank lifted its holdings in shares of Bristol Myers Squibb by 90.2% in the 2nd quarter. Saudi Central Bank now owns 142,922 shares of the biopharmaceutical company’s stock worth $8,235,000 after purchasing an additional 67,780 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Bristol Myers Squibb by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,142,754 shares of the biopharmaceutical company’s stock valued at $123,465,000 after purchasing an additional 317,360 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, October 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Guggenheim reiterated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Daiwa Securities Group boosted their target price on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Argus upgraded shares of Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.46.

Bristol Myers Squibb Trading Up 4.1%

Shares of BMY stock opened at $64.21 on Thursday. The firm has a market cap of $131.26 billion, a P/E ratio of 14.24, a PEG ratio of 0.32 and a beta of 0.20. The company has a 50 day moving average of $62.53 and a 200-day moving average of $60.03. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79. Bristol Myers Squibb Company has a 12-month low of $45.26 and a 12-month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.72 billion. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.63 EPS. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 3.9%. Bristol Myers Squibb’s dividend payout ratio is currently 55.88%.

Bristol Myers Squibb Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.