Bristol Myers Squibb Company $BMY Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 10.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 22,596 shares of the biopharmaceutical company’s stock after selling 2,709 shares during the period. Means Investment CO. Inc.’s holdings in Bristol Myers Squibb were worth $1,046,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BMY. New England Asset Management Inc. grew its holdings in Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 305 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after acquiring an additional 13,959 shares during the last quarter. Sage Capital Advisors llc grew its holdings in Bristol Myers Squibb by 60.7% in the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after purchasing an additional 32,181 shares during the period. Ransom Advisory Ltd acquired a new position in Bristol Myers Squibb during the first quarter worth approximately $843,000. Finally, Castle Rock Wealth Management LLC raised its stake in Bristol Myers Squibb by 458.2% during the second quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock worth $2,088,000 after purchasing an additional 36,576 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $44.01 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a market capitalization of $89.57 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.25 and a beta of 0.33. The business has a 50-day moving average of $46.26 and a 200-day moving average of $48.03.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. 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 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. Bristol Myers Squibb’s dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMY. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Finally, Citigroup reduced their price objective on 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. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.14.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

About Bristol Myers Squibb

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.