Capital Management Corp VA Acquires 9,815 Shares of Bristol Myers Squibb Company $BMY

Capital Management Corp VA increased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,670 shares of the biopharmaceutical company’s stock after acquiring an additional 9,815 shares during the period. Capital Management Corp VA’s holdings in Bristol Myers Squibb were worth $5,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank bought a new stake in Bristol Myers Squibb during the second quarter worth $1,554,154,000. Charles Schwab Investment Management Inc. lifted its stake in Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Bristol Myers Squibb by 428.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after acquiring an additional 9,171,098 shares during the last quarter. Man Group plc grew its stake in shares of Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after acquiring an additional 5,503,391 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Bristol Myers Squibb by 142.8% in the second quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock valued at $390,541,000 after purchasing an additional 4,961,869 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BMY shares. HSBC restated a “hold” rating and set a $53.00 price target on shares of Bristol Myers Squibb in a report on Wednesday, December 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Leerink Partners upped their target price on Bristol Myers Squibb from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of Bristol Myers Squibb in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.43.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $55.03 on Friday. The company has a market capitalization of $112.02 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.17 and a beta of 0.29. The business has a fifty day simple moving average of $53.41 and a two-hundred day simple moving average of $48.66. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the company earned $1.80 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.