New York State Common Retirement Fund Has $106.84 Million Stock Position in Bristol Myers Squibb Company $BMY

New York State Common Retirement Fund reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,368,976 shares of the biopharmaceutical company’s stock after selling 146,360 shares during the period. New York State Common Retirement Fund’s holdings in Bristol Myers Squibb were worth $106,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new position in Bristol Myers Squibb during the second quarter worth about $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $25,000. Harbor Capital Advisors Inc. boosted its stake in Bristol Myers Squibb by 107.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 313 shares during the last quarter. REAP Financial Group LLC grew its holdings in Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares during the period. Finally, DHJJ Financial Advisors Ltd. increased its stake in Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 0.7%

NYSE:BMY opened at $54.25 on Friday. The stock has a 50-day simple moving average of $53.24 and a 200 day simple moving average of $48.59. 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 $110.43 billion, a PE ratio of 18.33, a PEG ratio of 0.17 and a beta of 0.29. 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 released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion for 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%.The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 EPS. On average, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal 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 $0.63 dividend. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. 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. Bristol Myers Squibb’s payout ratio is presently 85.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BMY. Wells Fargo & Company lifted their price target on shares of Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Morgan Stanley reiterated an “underweight” rating and set a $37.00 target price (up from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $61.00 in a research note on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.43.

Bristol Myers Squibb 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.