Sterling Capital Management LLC Increases Holdings in Bristol-Myers Squibb Co (BMY)

Sterling Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 980,911 shares of the biopharmaceutical company’s stock after buying an additional 24,629 shares during the quarter. Sterling Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $62,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after purchasing an additional 7,020,200 shares during the period. Franklin Resources Inc. lifted its stake in shares of Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after purchasing an additional 3,960,191 shares during the period. Jennison Associates LLC lifted its stake in shares of Bristol-Myers Squibb by 16.2% in the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after purchasing an additional 3,735,453 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after purchasing an additional 3,516,536 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Bristol-Myers Squibb by 42,071.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after purchasing an additional 3,323,649 shares during the period. Institutional investors and hedge funds own 69.70% of the company’s stock.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was acquired at an average price of $62.30 per share, with a total value of $249,200.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at $1,370,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on BMY shares. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Vetr cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $59.70 target price for the company. in a research note on Thursday, December 28th. SunTrust Banks upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Barclays boosted their target price on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets set a $49.00 target price on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $65.58.

Shares of Bristol-Myers Squibb Co (NYSE BMY) opened at $62.63 on Thursday. The company has a market cap of $99,675.04, a price-to-earnings ratio of 106.15, a P/E/G ratio of 1.92 and a beta of 1.09. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb Co has a 1-year low of $51.12 and a 1-year high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 33.68%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. analysts expect that Bristol-Myers Squibb Co will post 3.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were issued a dividend of $0.40 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. Bristol-Myers Squibb’s dividend payout ratio is presently 271.19%.

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Bristol-Myers Squibb Company Profile

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.

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

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