Pflug Koory LLC Raises Stock Holdings in Bristol-Myers Squibb Co (NYSE:BMY)

Pflug Koory LLC increased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,265 shares of the biopharmaceutical company’s stock after purchasing an additional 595 shares during the quarter. Pflug Koory LLC’s holdings in Bristol-Myers Squibb were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after buying an additional 30,981,844 shares during the last quarter. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $797,038,000. Janus Henderson Group PLC raised its holdings in shares of Bristol-Myers Squibb by 75.7% in the 2nd quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock valued at $732,691,000 after buying an additional 6,960,047 shares during the period. Nordea Investment Management AB raised its holdings in shares of Bristol-Myers Squibb by 380.2% in the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock valued at $298,324,000 after buying an additional 4,950,748 shares during the period. Finally, Ronna Sue Cohen raised its holdings in shares of Bristol-Myers Squibb by 4,702.2% in the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock valued at $1,518,000 after buying an additional 1,486,612 shares during the period. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Several research firms recently issued reports on BMY. UBS Group cut their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a report on Wednesday. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, May 7th. Goldman Sachs Group began coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $55.88.

In related news, Director Robert J. Bertolini bought 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

BMY traded up $1.00 on Friday, hitting $46.75. 465,111 shares of the company were exchanged, compared to its average volume of 14,998,365. Bristol-Myers Squibb Co has a twelve month low of $42.48 and a twelve month high of $63.69. The company has a market cap of $76.05 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.73. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $45.30 and a two-hundred day moving average price of $47.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the previous year, the firm posted $1.01 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb Co will post 4.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.51%. Bristol-Myers Squibb’s payout ratio is 41.21%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Quick Ratio

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

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