King Luther Capital Management Corp Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

King Luther Capital Management Corp lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,357 shares of the biopharmaceutical company’s stock after selling 332 shares during the period. King Luther Capital Management Corp’s holdings in Bristol-Myers Squibb were worth $1,208,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the period. Federated Hermes Inc. boosted its stake in Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after buying an additional 3,495,704 shares during the last quarter. Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after buying an additional 3,425,789 shares in the last quarter. Swedbank AB bought a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $158,223,000. Finally, State of Michigan Retirement System boosted its position in shares of Bristol-Myers Squibb by 147.7% during the 2nd quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock valued at $197,979,000 after acquiring an additional 2,842,400 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.1 %

BMY opened at $58.87 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm has a market cap of $119.40 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 15.62 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The stock has a fifty day moving average price of $53.66 and a 200-day moving average price of $47.74.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.07.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Profile

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.