Pzena Investment Management LLC Buys 67,409 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pzena Investment Management LLC raised its stake 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 Form 13F filing with the Securities & Exchange Commission. The fund owned 14,201,746 shares of the biopharmaceutical company's stock after purchasing an additional 67,409 shares during the period. Bristol-Myers Squibb accounts for 2.4% of Pzena Investment Management LLC's portfolio, making the stock its 20th largest holding. Pzena Investment Management LLC owned 0.70% of Bristol-Myers Squibb worth $734,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Capital International Investors grew its position in Bristol-Myers Squibb by 14.1% in the 1st 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 during the last quarter. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company's stock valued at $975,897,000 after purchasing an additional 225,197 shares in the last quarter. Legal & General Group Plc increased its holdings in Bristol-Myers Squibb by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company's stock valued at $839,946,000 after buying an additional 735,613 shares during the period. Independent Franchise Partners LLP lifted its holdings in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company's stock worth $606,364,000 after acquiring an additional 556,295 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Transactions at Bristol-Myers Squibb

In related 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 acquisition, the executive vice president now owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Trading Down 0.6 %

Shares of Bristol-Myers Squibb stock traded down $0.35 on Wednesday, hitting $57.88. 10,594,627 shares of the company's stock traded hands, compared to its average volume of 14,426,227. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $117.39 billion, a PE ratio of -16.12, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. The firm's 50-day moving average price is $53.26 and its two-hundred day moving average price is $47.54. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for 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 company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. On average, research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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

Analyst Upgrades and Downgrades

BMY has been the subject of a number of analyst reports. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a "peer perform" rating on the stock. Barclays boosted their price target on shares of 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 reaffirmed a "neutral" rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. BMO Capital Markets boosted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a report on Tuesday, November 12th. Finally, UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of "Hold" and an average 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.