Bristol Myers Squibb Company $BMY Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 9.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 367,143 shares of the biopharmaceutical company’s stock after acquiring an additional 32,161 shares during the period. Rakuten Investment Management Inc.’s holdings in Bristol Myers Squibb were worth $23,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in Bristol Myers Squibb by 5.1% in the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after buying an additional 8,702,106 shares during the period. State Street Corp grew its holdings in Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after acquiring an additional 7,192,724 shares during the period. Primecap Management Co. CA acquired a new stake in Bristol Myers Squibb during the 2nd quarter worth $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bristol Myers Squibb by 0.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock valued at $1,315,984,000 after acquiring an additional 119,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Bristol Myers Squibb by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after acquiring an additional 520,330 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America reissued a “buy” rating on shares of Bristol Myers Squibb in a research note on Friday. Daiwa Securities Group lifted their price objective on Bristol Myers Squibb from $53.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 22nd. Weiss Ratings raised Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Finally, William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.46.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $61.63 on Wednesday. The stock’s fifty day simple moving average is $62.60 and its 200 day simple moving average is $60.00. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $125.98 billion, a PE ratio of 10.12, a PEG ratio of 0.32 and a beta of 0.20. Bristol Myers Squibb Company has a 12 month low of $45.26 and a 12 month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 60.48% and a net margin of 18.47%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Bristol Myers Squibb Company will post 6.45 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were given a $0.63 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.1%. Bristol Myers Squibb’s payout ratio is currently 55.88%.

Insider Activity

In related news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. This represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company’s portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.