Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,392,991 shares of the biopharmaceutical company’s stock after selling 37,826 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bristol-Myers Squibb were worth $72,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares in the last quarter. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after buying an additional 3,425,789 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Bristol-Myers Squibb by 147.7% during the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock worth $197,979,000 after purchasing an additional 2,842,400 shares during the period. Finally, Mizuho Markets Americas LLC increased its stake in Bristol-Myers Squibb by 1,172.5% in the 2nd quarter. Mizuho Markets Americas LLC now owns 2,799,600 shares of the biopharmaceutical company’s stock worth $116,267,000 after purchasing an additional 2,579,600 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on 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 purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BMY shares. Barclays lifted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Citigroup increased their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of BMY stock opened at $59.27 on Thursday. The stock’s 50 day simple moving average is $54.21 and its 200 day simple moving average is $48.05. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market capitalization of $120.21 billion, a price-to-earnings ratio of -16.51, a PEG ratio of 15.77 and a beta of 0.44.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.05%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Bristol-Myers Squibb Company 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.