Bristol Myers Squibb Company $BMY Stock: Eurizon Capital SGR S.p.A. Cuts Stake

Eurizon Capital SGR S.p.A. trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989,716 shares of the biopharmaceutical company’s stock after selling 240,580 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Bristol Myers Squibb were worth $61,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in Bristol Myers Squibb by 6.4% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 233,660 shares of the biopharmaceutical company’s stock worth $14,580,000 after buying an additional 13,968 shares in the last quarter. R Squared Ltd acquired a new stake in Bristol Myers Squibb in the 3rd quarter valued at approximately $328,000. King Luther Capital Management Corp raised its stake in Bristol Myers Squibb by 1.7% during the 3rd quarter. King Luther Capital Management Corp now owns 606,134 shares of the biopharmaceutical company’s stock valued at $37,823,000 after acquiring an additional 9,890 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Bristol Myers Squibb by 12.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 124,534 shares of the biopharmaceutical company’s stock valued at $7,771,000 after acquiring an additional 13,837 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in Bristol Myers Squibb by 31.6% during the 3rd quarter. Ritholtz Wealth Management now owns 223,042 shares of the biopharmaceutical company’s stock worth $13,918,000 after acquiring an additional 53,567 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMY. Argus raised Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, August 5th. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Morgan Stanley reduced their price objective on shares of Bristol Myers Squibb from $41.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, October 30th. Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus price target of $65.46.

Insider Activity

In other news, Director Julia A. Haller sold 3,800 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $63.31, for a total transaction of $240,578.00. Following the completion of the transaction, the director owned 30,279 shares in the company, valued at approximately $1,916,963.49. This trade represents a 11.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares in the company, valued at $1,138,185. This represents a 2.88% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is currently owned by insiders.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY opened at $62.42 on Friday. The stock has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $60.27. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59. The firm has a market cap of $127.58 billion, a P/E ratio of 13.84, a PEG ratio of 0.32 and a beta of 0.20. Bristol Myers Squibb Company has a 1 year low of $45.26 and a 1 year high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.25. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.72 billion. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Research analysts forecast that Bristol Myers Squibb Company will post 6.46 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, October 2nd. Bristol Myers Squibb’s payout ratio is presently 55.88%.

Key Stories Impacting Bristol Myers Squibb

Here are a few of the latest stories about BMY:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.