Proffitt & Goodson Inc. Makes New $67,000 Investment in Bristol Myers Squibb Company $BMY

Proffitt & Goodson Inc. purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,458 shares of the biopharmaceutical company’s stock, valued at approximately $67,000.

A number of other hedge funds have also recently made changes to their positions in the business. Beacon Investment Advisory Services Inc. grew its holdings in shares of Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 212 shares during the last quarter. Exchange Capital Management Inc. grew its holdings in shares of Bristol Myers Squibb by 0.4% during the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after buying an additional 220 shares during the last quarter. 1858 Wealth Management LLC grew its holdings in shares of Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 221 shares during the last quarter. Parsons Capital Management Inc. RI grew its holdings in shares of Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after buying an additional 224 shares during the last quarter. Finally, Richwood Investment Advisors LLC grew its holdings in shares of Bristol Myers Squibb by 1.7% during the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 225 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $44.63 on Wednesday. The firm has a market cap of $90.84 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.31 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. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The firm’s 50-day simple moving average is $46.27 and its two-hundred day simple moving average is $48.36.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 annualized dividend and a yield of 5.6%. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BMY shares. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.14.

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.