Meag Munich Ergo Kapitalanlagegesellschaft MBH Lowers Position in Bristol-Myers Squibb Co (BMY)

Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its position in Bristol-Myers Squibb Co (NYSE:BMY) by 56.2% during the third quarter, HoldingsChannel.com reports. The fund owned 49,676 shares of the biopharmaceutical company’s stock after selling 63,753 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Bristol-Myers Squibb were worth $3,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after buying an additional 7,020,200 shares in the last quarter. Franklin Resources Inc. lifted its stake in Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after buying an additional 3,960,191 shares in the last quarter. Jennison Associates LLC lifted its stake in Bristol-Myers Squibb by 16.2% in the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after buying an additional 3,735,453 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after buying an additional 3,516,536 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Bristol-Myers Squibb by 42,071.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after buying an additional 3,323,649 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.

Bristol-Myers Squibb Co (NYSE BMY) opened at $62.47 on Friday. Bristol-Myers Squibb Co has a 52 week low of $46.01 and a 52 week high of $66.10. The firm has a market capitalization of $102,240.00, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the prior year, the company earned $0.77 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. sell-side analysts expect that Bristol-Myers Squibb Co will post 2.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio is currently 62.99%.

A number of equities research analysts recently issued reports on BMY shares. Citigroup set a $72.00 target price on Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Wednesday, October 25th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, September 27th. Vetr raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.50 target price on the stock in a research note on Wednesday, September 27th. UBS Group reaffirmed a “buy” rating and issued a $72.00 target price (up previously from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Finally, SunTrust Banks raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $65.05.

In related news, EVP Sandra Leung sold 156,582 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total value of $335,172.00. Following the completion of the transaction, the executive vice president now directly owns 9,251 shares in the company, valued at $585,033.24. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.com-unik.info/2018/01/12/meag-munich-ergo-kapitalanlagegesellschaft-mbh-lowers-position-in-bristol-myers-squibb-co-bmy.html.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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

What are top analysts saying about Bristol-Myers Squibb? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Bristol-Myers Squibb and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit