Bristol Myers Squibb Company $BMY Stake Boosted by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 63.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 508,991 shares of the biopharmaceutical company’s stock after acquiring an additional 197,940 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Bristol Myers Squibb were worth $22,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BMY. Vanguard Group Inc. raised its position in Bristol Myers Squibb by 1.8% during the second quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock valued at $9,023,088,000 after acquiring an additional 3,522,202 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after purchasing an additional 10,195,775 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Bristol Myers Squibb by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock valued at $2,132,976,000 after purchasing an additional 723,459 shares in the last quarter. Norges Bank acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at $1,554,154,000. Finally, Ameriprise Financial Inc. boosted its holdings in Bristol Myers Squibb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 32,579,618 shares of the biopharmaceutical company’s stock worth $1,508,099,000 after purchasing an additional 432,158 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $55.03 on Friday. The firm has a market cap of $112.02 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The firm’s 50-day simple moving average is $53.41 and its 200-day simple moving average is $48.66. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results 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. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a yield of 4.6%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is 85.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Leerink Partners boosted their price target on Bristol Myers Squibb from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 13th. Citigroup reaffirmed a “neutral” rating and set a $60.00 target price (up previously from $53.00) on shares of Bristol Myers Squibb in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $37.00 price target (up previously from $36.00) on shares of Bristol Myers Squibb in a research report on Friday, December 12th. UBS Group upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $65.00 in a research note on Wednesday, January 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Bristol Myers Squibb in a research note on Tuesday, December 23rd. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $57.43.

Bristol Myers Squibb Company Profile

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.