ING Groep NV Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

ING Groep NV lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 540.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,034,653 shares of the biopharmaceutical company’s stock after buying an additional 873,152 shares during the quarter. ING Groep NV’s holdings in Bristol-Myers Squibb were worth $53,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Capital International Investors grew its stake in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $392,608,000. Price T Rowe Associates Inc. MD lifted its stake in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $158,223,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, 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. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMY. Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday. TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $73.00 in a report on Tuesday. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

Shares of BMY traded up $0.49 during trading hours on Thursday, hitting $58.90. 2,986,667 shares of the company were exchanged, compared to its average volume of 14,393,950. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The company has a market capitalization of $119.46 billion, a PE ratio of -16.24, a PEG ratio of 21.34 and a beta of 0.44. The firm has a fifty day simple moving average of $52.41 and a 200-day simple moving average of $47.07.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating 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 company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.07%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

About Bristol-Myers Squibb

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.