Sage Mountain Advisors LLC Boosts Stock Position in Bristol Myers Squibb Company $BMY

Sage Mountain Advisors LLC boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 49.2% in the second quarter, Holdings Channel reports. The institutional investor owned 12,670 shares of the biopharmaceutical company’s stock after purchasing an additional 4,180 shares during the period. Sage Mountain Advisors LLC’s holdings in Bristol Myers Squibb were worth $587,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its holdings in shares of Bristol Myers Squibb by 8.9% during the second quarter. Washington Trust Advisors Inc. now owns 4,875 shares of the biopharmaceutical company’s stock valued at $226,000 after acquiring an additional 400 shares in the last quarter. AlphaQuest LLC grew its position in Bristol Myers Squibb by 310.1% during the 2nd quarter. AlphaQuest LLC now owns 18,944 shares of the biopharmaceutical company’s stock valued at $877,000 after purchasing an additional 14,325 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Bristol Myers Squibb by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,145,653 shares of the biopharmaceutical company’s stock valued at $238,192,000 after purchasing an additional 103,608 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Bristol Myers Squibb in the second quarter worth about $370,000. Finally, Harbour Investment Management LLC lifted its stake in shares of Bristol Myers Squibb by 2.4% in the second quarter. Harbour Investment Management LLC now owns 30,338 shares of the biopharmaceutical company’s stock worth $1,404,000 after buying an additional 718 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BMY. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.23.

Bristol Myers Squibb Stock Up 0.0%

Bristol Myers Squibb stock opened at $43.84 on Friday. The stock has a market cap of $89.24 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.29 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. The stock has a fifty day moving average of $45.75 and a 200 day moving average of $47.10. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results 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 return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the company posted $2.07 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb 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.