RS Investment Management Co. LLC cut its position in Bristol-Myers Squibb Co. (NYSE:BMY) by 30.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 366,010 shares of the biopharmaceutical company’s stock after selling 159,990 shares during the period. RS Investment Management Co. LLC’s holdings in Bristol-Myers Squibb were worth $26,920,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its stake in Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock worth $2,858,131,000 after buying an additional 844,233 shares during the period. BlackRock Group LTD boosted its stake in Bristol-Myers Squibb by 0.3% in the first quarter. BlackRock Group LTD now owns 15,139,964 shares of the biopharmaceutical company’s stock worth $967,140,000 after buying an additional 38,123 shares during the period. Geode Capital Management LLC boosted its stake in Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock worth $862,835,000 after buying an additional 254,653 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Bristol-Myers Squibb by 9.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,372,071 shares of the biopharmaceutical company’s stock worth $662,568,000 after buying an additional 921,866 shares during the period. Finally, Legal & General Group Plc boosted its stake in Bristol-Myers Squibb by 1.3% in the first quarter. Legal & General Group Plc now owns 7,584,986 shares of the biopharmaceutical company’s stock worth $484,521,000 after buying an additional 100,013 shares during the period. Hedge funds and other institutional investors own 72.88% of the company’s stock.

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

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 10.14% during trading on Monday, hitting $49.81. 65,241,277 shares of the stock were exchanged. The firm’s 50 day moving average price is $56.41 and its 200-day moving average price is $66.79. The stock has a market cap of $83.23 billion, a P/E ratio of 29.13 and a beta of 0.75. Bristol-Myers Squibb Co. has a 52 week low of $49.54 and a 52 week high of $77.12.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is 87.36%.

A number of brokerages have recently commented on BMY. Jefferies Group upped their price objective on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research report on Monday, July 25th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $86.00 to $68.00 in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.31.

In related news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now directly owns 334,499 shares in the company, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

5 Day Chart for NYSE:BMY

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