Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 70.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 278,908 shares of the biopharmaceutical company's stock after purchasing an additional 115,488 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Bristol-Myers Squibb were worth $14,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. FMR LLC grew its position in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Federated Hermes Inc. grew its position in Bristol-Myers Squibb by 86.3% during the 2nd 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. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the period. Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock valued at $183,971,000 after acquiring an additional 3,107,672 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

BMY traded down $0.37 during trading on Thursday, reaching $56.28. The company's stock had a trading volume of 12,118,689 shares, compared to its average volume of 14,062,190. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a fifty day simple moving average of $55.78 and a two-hundred day simple moving average of $49.12. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a market cap of $114.15 billion, a price-to-earnings ratio of -15.78, a PEG ratio of 15.93 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business's revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's payout ratio is presently -66.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a "peer perform" rating on the stock. Daiwa America upgraded Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Finally, TD Cowen raised their target price 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $54.29.

Bristol-Myers Squibb 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.