Westpac Banking Corp Has $5.65 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Westpac Banking Corp lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,130 shares of the biopharmaceutical company’s stock after selling 5,041 shares during the quarter. Westpac Banking Corp’s holdings in Bristol-Myers Squibb were worth $5,651,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares during the last quarter. Invesco Ltd. grew its stake in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock valued at $582,970,000 after acquiring an additional 134,815 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets decreased their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.00.

Get Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.10 during trading hours on Wednesday, hitting $44.61. The stock had a trading volume of 4,547,258 shares, compared to its average volume of 15,445,315. Bristol-Myers Squibb has a one year low of $43.33 and a one year high of $68.14. The company has a 50 day simple moving average of $49.46 and a two-hundred day simple moving average of $50.13. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market capitalization of $90.43 billion, a price-to-earnings ratio of -14.45, a P/E/G ratio of 15.23 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.38%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Bristol-Myers Squibb Company Profile

(Free Report)

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

Further Reading

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

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