Kahn Brothers Group Inc. DE Raises Stock Position in Bristol-Myers Squibb Co (NYSE:BMY)

Kahn Brothers Group Inc. DE increased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,071,235 shares of the biopharmaceutical company’s stock after acquiring an additional 52,955 shares during the quarter. Bristol-Myers Squibb makes up about 6.8% of Kahn Brothers Group Inc. DE’s portfolio, making the stock its 8th largest position. Kahn Brothers Group Inc. DE owned approximately 0.07% of Bristol-Myers Squibb worth $54,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.2% in the second quarter. Vanguard Group Inc. now owns 134,058,636 shares of the biopharmaceutical company’s stock valued at $6,079,559,000 after buying an additional 1,580,750 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Bristol-Myers Squibb by 6.7% in the second quarter. BlackRock Inc. now owns 114,798,394 shares of the biopharmaceutical company’s stock valued at $5,206,108,000 after purchasing an additional 7,178,698 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Bristol-Myers Squibb by 40.4% in the second quarter. Invesco Ltd. now owns 24,012,686 shares of the biopharmaceutical company’s stock valued at $1,088,974,000 after purchasing an additional 6,915,526 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Bristol-Myers Squibb by 67.6% in the second quarter. Renaissance Technologies LLC now owns 20,698,607 shares of the biopharmaceutical company’s stock valued at $938,682,000 after purchasing an additional 8,347,432 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Bristol-Myers Squibb by 75.7% in the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock valued at $732,691,000 after purchasing an additional 6,960,047 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. Wolfe Research set a $66.00 target price on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America assumed coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 16th. They issued a “buy” rating and a $60.00 target price for the company. UBS Group increased their target price on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TheStreet upgraded shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a report on Wednesday, September 18th. Finally, Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.64.

NYSE BMY traded up $0.44 during trading hours on Friday, reaching $58.02. 11,573,141 shares of the company were exchanged, compared to its average volume of 12,766,524. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $58.46. The business’s 50 day simple moving average is $52.75 and its 200-day simple moving average is $48.13. The company has a quick ratio of 3.72, a current ratio of 3.83 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $91.88 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.31 and a beta of 0.71.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb Co will post 4.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.83%. Bristol-Myers Squibb’s payout ratio is 41.21%.

In other news, insider Louis S. Schmukler sold 25,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the completion of the transaction, the insider now owns 31,963 shares in the company, valued at $1,807,827.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John E. Elicker sold 15,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the completion of the transaction, the senior vice president now owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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