Primecap Management Co. CA Has $1.21 Billion Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Primecap Management Co. CA decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,369,570 shares of the biopharmaceutical company's stock after selling 129,034 shares during the quarter. Primecap Management Co. CA owned approximately 1.15% of Bristol-Myers Squibb worth $1,209,142,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock worth $2,305,000 after acquiring an additional 11,387 shares during the last quarter. Graypoint LLC raised its stake in shares of Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company's stock worth $584,000 after acquiring an additional 2,563 shares during the last quarter. Xponance Inc. raised its stake in shares of Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company's stock worth $13,181,000 after buying an additional 25,543 shares during the last quarter. Finally, Plato Investment Management Ltd grew its holdings in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company's stock valued at $4,317,000 after purchasing an additional 21,041 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several research analyst reports. Barclays upped their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Monday, October 7th. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Daiwa America raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $54.07.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the company's stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Down 0.6 %

Shares of BMY opened at $57.88 on Thursday. The firm has a market cap of $117.39 billion, a P/E ratio of -16.12, a P/E/G ratio of 15.08 and a beta of 0.44. The stock has a 50 day simple moving average of $53.26 and a two-hundred day simple moving average of $47.54. 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 1 year low of $39.35 and a 1 year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.00 earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. Bristol-Myers Squibb's payout ratio is presently -66.85%.

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.

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