Bristol Myers Squibb Company $BMY Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,074,093 shares of the biopharmaceutical company’s stock after selling 141,330 shares during the period. Russell Investments Group Ltd.’s holdings in Bristol Myers Squibb were worth $254,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PBU The Pension Fund of Early Childhood & Youth Educators boosted its position in Bristol Myers Squibb by 6.4% in the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 233,660 shares of the biopharmaceutical company’s stock worth $14,580,000 after purchasing an additional 13,968 shares during the last quarter. R Squared Ltd purchased a new position in shares of Bristol Myers Squibb in the 3rd quarter worth about $328,000. King Luther Capital Management Corp grew its position in Bristol Myers Squibb by 1.7% during the third quarter. King Luther Capital Management Corp now owns 606,134 shares of the biopharmaceutical company’s stock valued at $37,823,000 after buying an additional 9,890 shares during the period. Maryland State Retirement & Pension System grew its position in Bristol Myers Squibb by 12.5% during the third quarter. Maryland State Retirement & Pension System now owns 124,534 shares of the biopharmaceutical company’s stock valued at $7,771,000 after buying an additional 13,837 shares during the period. Finally, Ritholtz Wealth Management grew its position in Bristol Myers Squibb by 31.6% during the third quarter. Ritholtz Wealth Management now owns 223,042 shares of the biopharmaceutical company’s stock valued at $13,918,000 after buying an additional 53,567 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Latest Bristol Myers Squibb News

Investors following BMY have been watching these news items:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Guggenheim reiterated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Rothschild & Co Redburn increased their price objective on Bristol Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, October 12th. Finally, Cantor Fitzgerald cut their price target on Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus price target of $65.46.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julia Haller sold 3,800 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $63.31, for a total value of $240,578.00. Following the completion of the transaction, the director owned 30,279 shares of the company’s stock, valued at approximately $1,916,963.49. This represents a 11.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $62.42 on Friday. The stock has a market capitalization of $127.58 billion, a P/E ratio of 13.84, a PEG ratio of 0.32 and a beta of 0.20. 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 firm’s 50 day moving average is $61.99 and its 200 day moving average is $60.27. 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 released its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.72 billion. During the same period in the previous year, the business earned $1.63 EPS. Bristol Myers Squibb’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.46 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders 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 4.0%. Bristol Myers Squibb’s payout ratio is 55.88%.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.