Arista Wealth Management LLC Takes Position in Bristol Myers Squibb Company $BMY

Arista Wealth Management LLC purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,004 shares of the biopharmaceutical company’s stock, valued at approximately $463,000.

Other hedge funds have also recently made changes to their positions in the company. Beacon Investment Advisory Services Inc. lifted its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after acquiring an additional 212 shares during the period. Exchange Capital Management Inc. lifted its stake in shares of Bristol Myers Squibb by 0.4% in the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after acquiring an additional 220 shares during the period. 1858 Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 221 shares during the period. Parsons Capital Management Inc. RI lifted its stake in shares of Bristol Myers Squibb by 0.3% in the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after acquiring an additional 224 shares during the period. Finally, Richwood Investment Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock worth $616,000 after acquiring an additional 225 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on BMY. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Trading Up 0.5%

NYSE BMY opened at $43.63 on Friday. The company has a market cap of $88.80 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 2.25 and a beta of 0.33. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The business has a 50 day moving average price of $46.07 and a 200-day moving average price of $47.55. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS 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 the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by 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.