Summit X LLC Reduces Stake in Bristol Myers Squibb Company $BMY

Summit X LLC trimmed its position in Bristol Myers Squibb Company (NYSE:BMY) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,246 shares of the biopharmaceutical company’s stock after selling 1,267 shares during the quarter. Summit X LLC’s holdings in Bristol Myers Squibb were worth $1,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. King Luther Capital Management Corp increased its holdings in shares of Bristol Myers Squibb by 115.2% in the second quarter. King Luther Capital Management Corp now owns 536,588 shares of the biopharmaceutical company’s stock worth $24,839,000 after purchasing an additional 287,201 shares during the period. Midwest Trust Co purchased a new position in shares of Bristol Myers Squibb during the second quarter worth about $5,671,000. Acadian Asset Management LLC raised its stake in Bristol Myers Squibb by 958.5% in the second quarter. Acadian Asset Management LLC now owns 1,775,057 shares of the biopharmaceutical company’s stock valued at $82,161,000 after purchasing an additional 1,607,363 shares in the last quarter. CSM Advisors LLC bought a new stake in Bristol Myers Squibb during the second quarter valued at approximately $17,696,000. Finally, Sound View Wealth Advisors Group LLC grew its stake in Bristol Myers Squibb by 438.0% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after buying an additional 250,624 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Daiwa America downgraded 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 fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Trading Up 0.2%

NYSE BMY opened at $46.74 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The stock has a market cap of $95.14 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The stock has a 50 day simple moving average of $45.25 and a two-hundred day simple moving average of $46.69.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS 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 firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company posted $1.80 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 83.78%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on 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 directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.