Railway Pension Investments Ltd Has $107.78 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Railway Pension Investments Ltd trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,685,357 shares of the biopharmaceutical company’s stock after selling 236,100 shares during the period. Railway Pension Investments Ltd’s holdings in Bristol-Myers Squibb were worth $107,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Northwest Capital Management Inc acquired a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $26,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $31,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $33,000. Finally, Avalon Trust Co acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 74.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Daiwa Capital Markets downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $54.00 in a research note on Thursday, November 2nd. William Blair cut shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. TD Cowen dropped their price objective on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research note on Friday, September 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, November 9th. They issued a “hold” rating and a $55.00 price objective for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $84.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $63.59.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.26 during midday trading on Tuesday, reaching $48.64. 1,457,573 shares of the company were exchanged, compared to its average volume of 9,704,494. The stock’s 50-day moving average price is $55.36 and its 200-day moving average price is $60.73. The stock has a market cap of $98.97 billion, a P/E ratio of 12.41, a PEG ratio of 1.62 and a beta of 0.38. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11. Bristol-Myers Squibb has a one year low of $48.42 and a one year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.24. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.69%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 57.87%.

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, 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.