Franklin Resources Inc. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Franklin Resources Inc. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 35.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,752,502 shares of the biopharmaceutical company’s stock after purchasing an additional 989,027 shares during the period. Franklin Resources Inc. owned approximately 0.18% of Bristol-Myers Squibb worth $260,086,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Talbot Financial LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $4,482,000. Ethic Inc. raised its stake in shares of Bristol-Myers Squibb by 26.4% during the 1st quarter. Ethic Inc. now owns 121,524 shares of the biopharmaceutical company’s stock worth $8,423,000 after buying an additional 25,385 shares during the last quarter. Atlas Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $276,000. Fisher Asset Management LLC grew its stake in Bristol-Myers Squibb by 0.7% in the 1st quarter. Fisher Asset Management LLC now owns 200,045 shares of the biopharmaceutical company’s stock valued at $13,865,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Kowal Investment Group LLC raised its position in Bristol-Myers Squibb by 7.5% during the first quarter. Kowal Investment Group LLC now owns 6,738 shares of the biopharmaceutical company’s stock worth $467,000 after acquiring an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several research reports. Bank of America cut their price objective on Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 28th. SVB Securities started coverage on shares of Bristol-Myers Squibb in a research note on Monday, July 10th. They issued a “market perform” rating and a $66.00 target price for the company. Morgan Stanley reiterated an “underweight” rating and set a $59.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, July 19th. Daiwa Capital Markets initiated coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.14.

Bristol-Myers Squibb Stock Down 0.2 %

NYSE BMY traded down $0.11 on Tuesday, reaching $61.91. The company had a trading volume of 1,389,633 shares, compared to its average volume of 8,636,778. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28. Bristol-Myers Squibb has a 1 year low of $59.71 and a 1 year high of $81.43. The firm has a 50-day moving average of $62.35 and a 200-day moving average of $65.78. The firm has a market capitalization of $129.34 billion, a PE ratio of 16.49, a P/E/G ratio of 1.64 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same quarter last year, the firm posted $1.93 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were paid a $0.57 dividend. The ex-dividend date was Thursday, July 6th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.68%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 60.64%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at approximately $402,545.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at approximately $1,706,915. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Bristol-Myers Squibb 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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.