Grassi Investment Management Sells 750 Shares of Bristol Myers Squibb Company $BMY

Grassi Investment Management lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 107,610 shares of the biopharmaceutical company’s stock after selling 750 shares during the period. Grassi Investment Management’s holdings in Bristol Myers Squibb were worth $4,981,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMY. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the 1st quarter worth about $31,000. Accent Capital Management LLC bought a new position in Bristol Myers Squibb in the first quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC grew its stake in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Bristol Myers Squibb in the first quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 267 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMY. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup dropped their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Stock Down 0.7%

NYSE:BMY opened at $45.39 on Friday. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market capitalization of $92.38 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.34 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company’s 50-day simple moving average is $46.36 and its 200-day simple moving average is $48.65.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.