Varma Mutual Pension Insurance Co Acquires 826 Shares of Bristol-Myers Squibb (NYSE:BMY)

Varma Mutual Pension Insurance Co increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,526 shares of the biopharmaceutical company’s stock after acquiring an additional 826 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Bristol-Myers Squibb were worth $18,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $27,000. LGT Financial Advisors LLC increased its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $42,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $47,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

BMY opened at $48.70 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.42. The company has a market cap of $98.72 billion, a price-to-earnings ratio of -15.71, a PEG ratio of 12.92 and a beta of 0.46. The company’s 50 day moving average is $45.95 and its 200 day moving average is $46.55.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.67.

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 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.