Lansing Street Advisors Trims Stock Position in Bristol Myers Squibb Company $BMY

Lansing Street Advisors cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 25.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,227 shares of the biopharmaceutical company’s stock after selling 3,403 shares during the quarter. Lansing Street Advisors’ holdings in Bristol Myers Squibb were worth $473,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Secured Retirement Advisors LLC raised its position in shares of Bristol Myers Squibb by 18.5% in the 2nd quarter. Secured Retirement Advisors LLC now owns 4,679 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 732 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Bristol Myers Squibb in the second quarter worth $67,000. REAP Financial Group LLC boosted its holdings in shares of Bristol Myers Squibb by 202.8% during the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 428 shares in the last quarter. BankPlus Trust Department boosted its holdings in shares of Bristol Myers Squibb by 11.7% during the 2nd quarter. BankPlus Trust Department now owns 34,261 shares of the biopharmaceutical company’s stock valued at $1,586,000 after buying an additional 3,585 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in shares of Bristol Myers Squibb by 38.0% during the 2nd quarter. Shell Asset Management Co. now owns 86,338 shares of the biopharmaceutical company’s stock valued at $3,997,000 after buying an additional 23,772 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMY. Citigroup lowered their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Finally, Daiwa Capital Markets lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.14.

Bristol Myers Squibb Stock Down 1.1%

BMY stock opened at $44.63 on Wednesday. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The business has a fifty day moving average price of $46.27 and a 200-day moving average price of $48.36. 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 stock has a market capitalization of $90.84 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.31 and a beta of 0.33.

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, topping the consensus estimate of $1.07 by $0.39. The company 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%.Bristol Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast 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. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Company 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.