Capital International Sarl purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) in the 1st quarter, Holdings Channel reports. The fund purchased 73,393 shares of the biopharmaceutical company’s stock, valued at approximately $5,360,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital International Ltd. CA purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $3,926,000. Capital Group International Inc. CA purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $53,895,000. Capital International Investors purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $1,672,455,000. Orion Portfolio Solutions LLC increased its position in shares of Bristol-Myers Squibb by 10.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 15,046 shares of the biopharmaceutical company’s stock valued at $1,099,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $1,296,000. Hedge funds and other institutional investors own 76.54% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on BMY. Citigroup reissued a “buy” rating and issued a $90.00 target price on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. Bank of America increased their target price on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Atlantic Securities increased their target price on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and cut their price objective for the company from $82.00 to $76.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Moderate Buy” and a consensus price target of $76.36.
Bristol-Myers Squibb Stock Down 0.8 %
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 7.51 EPS for the current fiscal year.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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