Parcion Private Wealth LLC Increases Holdings in Bristol Myers Squibb Company $BMY

Parcion Private Wealth LLC grew its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,303 shares of the biopharmaceutical company’s stock after buying an additional 345 shares during the quarter. Parcion Private Wealth LLC’s holdings in Bristol Myers Squibb were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Beacon Investment Advisory Services Inc. raised its position in shares of Bristol Myers Squibb by 2.7% during the 1st 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 in the last quarter. Exchange Capital Management Inc. raised its position in shares of Bristol Myers Squibb by 0.4% during the 2nd 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 in the last quarter. Parsons Capital Management Inc. RI raised its position in shares of Bristol Myers Squibb by 0.3% during the 2nd 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 in the last quarter. Richwood Investment Advisors LLC raised its position in Bristol Myers Squibb by 1.7% in the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock worth $616,000 after purchasing an additional 225 shares during the period. Finally, Lipe & Dalton raised its position in Bristol Myers Squibb by 0.4% in the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock worth $3,476,000 after purchasing an additional 230 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMY. Daiwa Capital Markets lowered 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 report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. 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, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One research 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 stock. Based on data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $57.23.

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 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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $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 is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $44.36 on Thursday. 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 firm’s 50 day moving average price is $45.92 and its 200-day moving average price is $47.28. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a market cap of $90.29 billion, a PE 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period last year, the firm earned $2.07 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS 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 paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

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.