Carnegie Investment Counsel Sells 5,429 Shares of Bristol Myers Squibb Company $BMY

Carnegie Investment Counsel cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 16.3% in the second quarter, Holdings Channel.com reports. The firm owned 27,831 shares of the biopharmaceutical company’s stock after selling 5,429 shares during the period. Carnegie Investment Counsel’s holdings in Bristol Myers Squibb were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. GQG Partners LLC lifted its holdings in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the period. Nuveen LLC bought a new position in shares of Bristol Myers Squibb during the 1st quarter worth about $624,369,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Bristol Myers Squibb during the 2nd quarter worth about $98,898,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares during the period. 76.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Up 0.0%

BMY opened at $43.84 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $89.24 billion, a PE ratio of 17.68, a PEG ratio of 2.29 and a beta of 0.33. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The firm has a 50-day moving average price of $45.75 and a two-hundred day moving average price of $47.10.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 firm had revenue of $12.27 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. 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 report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.23.

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.