ICICI Prudential Asset Management Co Ltd Has $9.04 Million Position in Bristol-Myers Squibb (NYSE:BMY)

ICICI Prudential Asset Management Co Ltd lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 18.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 174,712 shares of the biopharmaceutical company’s stock after selling 38,500 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Bristol-Myers Squibb were worth $9,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Atomi Financial Group Inc. bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $231,000. Avantax Advisory Services Inc. lifted its stake in Bristol-Myers Squibb by 3.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 69,961 shares of the biopharmaceutical company’s stock valued at $3,794,000 after acquiring an additional 2,336 shares in the last quarter. TD Asset Management Inc boosted its holdings in Bristol-Myers Squibb by 2.7% during the 1st quarter. TD Asset Management Inc now owns 1,648,245 shares of the biopharmaceutical company’s stock worth $89,384,000 after acquiring an additional 42,682 shares during the last quarter. Souders Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $370,000. Finally, TBH Global Asset Management LLC lifted its position in shares of Bristol-Myers Squibb by 10.4% during the first quarter. TBH Global Asset Management LLC now owns 9,656 shares of the biopharmaceutical company’s stock valued at $524,000 after purchasing an additional 906 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.38 during midday trading on Wednesday, hitting $58.64. 1,968,027 shares of the company’s stock were exchanged, compared to its average volume of 14,402,706. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The business’s fifty day moving average price is $52.24 and its two-hundred day moving average price is $46.99. The company has a market cap of $118.93 billion, a price-to-earnings ratio of -16.35, a PEG ratio of 21.63 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $73.00 in a research note on Tuesday. Finally, Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.