Marco Investment Management LLC Lowers Holdings in Bristol Myers Squibb Company $BMY

Marco Investment Management LLC reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,451 shares of the biopharmaceutical company’s stock after selling 1,287 shares during the quarter. Marco Investment Management LLC’s holdings in Bristol Myers Squibb were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. increased its stake in shares of Bristol Myers Squibb by 2.7% during the first 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 during the period. Exchange Capital Management Inc. lifted its stake in 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. Parsons Capital Management Inc. RI grew its holdings in 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 worth $3,615,000 after acquiring an additional 224 shares in the last quarter. Richwood Investment Advisors LLC increased its position in Bristol Myers Squibb by 1.7% during the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after purchasing an additional 225 shares during the period. Finally, Lipe & Dalton raised its holdings in shares of Bristol Myers Squibb by 0.4% in the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after purchasing an additional 230 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $46.74 on Friday. The business has a fifty day moving average of $45.25 and a 200 day moving average of $46.72. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $95.14 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the company earned $1.80 EPS. Bristol Myers Squibb’s quarterly revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BMY shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus target price 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.