Clifford Swan Investment Counsel LLC Sells 52,795 Shares of Bristol Myers Squibb Company $BMY

Clifford Swan Investment Counsel LLC reduced its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 13.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 348,000 shares of the biopharmaceutical company’s stock after selling 52,795 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Bristol Myers Squibb were worth $16,109,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BMY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Bristol Myers Squibb during the second quarter worth $25,000. Accent Capital Management LLC bought a new position in Bristol Myers Squibb during the first quarter worth $33,000. CBIZ Investment Advisory Services LLC lifted its holdings 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 valued at $35,000 after buying an additional 231 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new stake in Bristol Myers Squibb during the first quarter valued at $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $44.36 on Thursday. The business’s fifty day moving average is $45.92 and its 200 day moving average is $47.28. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a market cap of $90.29 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.32 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 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%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Analyst Ratings Changes

BMY has been the topic of a number of recent analyst reports. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.23.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.