AustralianSuper Pty Ltd Sells 871,756 Shares of Bristol Myers Squibb Company $BMY

AustralianSuper Pty Ltd lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 27.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,361,163 shares of the biopharmaceutical company’s stock after selling 871,756 shares during the period. AustralianSuper Pty Ltd’s holdings in Bristol Myers Squibb were worth $106,488,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BMY. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bristol Myers Squibb by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,845 shares of the biopharmaceutical company’s stock worth $99,754,000 after acquiring an additional 93,528 shares during the last quarter. Retirement Planning Co of New England Inc. boosted its stake in Bristol Myers Squibb by 3.2% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 11,575 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 363 shares in the last quarter. Mystic Asset Management Inc. grew its position in Bristol Myers Squibb by 2.3% during the 3rd quarter. Mystic Asset Management Inc. now owns 24,658 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 566 shares during the last quarter. Little House Capital LLC increased its stake in Bristol Myers Squibb by 5.2% during the 3rd quarter. Little House Capital LLC now owns 26,319 shares of the biopharmaceutical company’s stock valued at $1,187,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Pines Wealth Management LLC purchased a new position in Bristol Myers Squibb in the third quarter worth about $204,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Down 1.6%

Bristol Myers Squibb stock opened at $54.66 on Thursday. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a market cap of $111.26 billion, a P/E ratio of 18.46, a P/E/G ratio of 0.17 and a beta of 0.29. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The business has a 50-day simple moving average of $53.07 and a two-hundred day simple moving average of $48.55.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the firm posted $1.80 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is presently 85.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $61.00 in a report on Monday, December 15th. Scotiabank reaffirmed a “sector perform” rating and set a $60.00 price target (up from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Finally, Citigroup reissued a “neutral” rating and issued a $60.00 target price (up previously from $53.00) on shares of Bristol Myers Squibb in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $57.43.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.