Exchange Capital Management Inc. Raises Stock Holdings in Bristol Myers Squibb Company $BMY

Exchange Capital Management Inc. raised its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,893 shares of the biopharmaceutical company’s stock after buying an additional 220 shares during the quarter. Exchange Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $2,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. lifted its holdings 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 purchasing an additional 212 shares during the last quarter. 1858 Wealth Management LLC raised its stake in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 221 shares during the last quarter. Parsons Capital Management Inc. RI boosted its holdings in 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 in the last quarter. LS Investment Advisors LLC grew its stake in shares of Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company’s stock worth $1,038,000 after acquiring an additional 225 shares during the last quarter. Finally, Lipe & Dalton increased its holdings in shares of Bristol Myers Squibb by 0.4% during the first quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after acquiring an additional 230 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 3.5%

Shares of BMY stock opened at $45.75 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. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The stock has a market cap of $93.12 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.43 and a beta of 0.33. The company has a 50 day simple moving average of $46.42 and a two-hundred day simple moving average of $48.76.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. 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 net margin of 10.58% and a return on equity of 80.04%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, 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 company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup reduced their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

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.