Park Avenue Securities LLC Makes New Investment in Bristol-Myers Squibb Co (NYSE:BMY)

Park Avenue Securities LLC purchased a new position in shares of Bristol-Myers Squibb Co (NYSE:BMY) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,408 shares of the biopharmaceutical company’s stock, valued at approximately $490,000.

A number of other large investors have also recently added to or reduced their stakes in BMY. Vanguard Group Inc raised its position in shares of Bristol-Myers Squibb by 1.0% in the third quarter. Vanguard Group Inc now owns 128,376,159 shares of the biopharmaceutical company’s stock valued at $7,969,593,000 after purchasing an additional 1,229,553 shares during the period. Independence Bank of Kentucky boosted its holdings in Bristol-Myers Squibb by 29.5% in the 4th quarter. Independence Bank of Kentucky now owns 17,998 shares of the biopharmaceutical company’s stock worth $936,000 after buying an additional 4,105 shares during the last quarter. Reilly Financial Advisors LLC boosted its holdings in Bristol-Myers Squibb by 62.5% in the 4th quarter. Reilly Financial Advisors LLC now owns 2,498 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 961 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth about $35,156,000. Finally, Ellis Investment Partners LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth about $274,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

In other Bristol-Myers Squibb news, insider Karen Murphy Santiago sold 3,065 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the transaction, the insider now directly owns 3,066 shares in the company, valued at $145,818.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Theodore R. Samuels II acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $47.29 per share, for a total transaction of $236,450.00. Following the completion of the acquisition, the director now owns 27,000 shares of the company’s stock, valued at $1,276,830. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by insiders.

BMY has been the subject of a number of recent research reports. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. UBS Group dropped their target price on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. ValuEngine raised Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Saturday, May 4th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. assumed coverage on Bristol-Myers Squibb in a report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $56.34.

NYSE:BMY traded down $0.85 during trading hours on Wednesday, reaching $44.92. 21,910,300 shares of the stock were exchanged, compared to its average volume of 17,561,090. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.79. The stock has a 50-day simple moving average of $46.93. Bristol-Myers Squibb Co has a twelve month low of $44.30 and a twelve month high of $63.69. The stock has a market cap of $74.72 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.12 and a beta of 0.74.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a return on equity of 48.72% and a net margin of 22.23%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb Co will post 4.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.65%. Bristol-Myers Squibb’s payout ratio is 41.21%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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