Clarendon Private LLC reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,346 shares of the biopharmaceutical company’s stock after selling 1,828 shares during the quarter. Clarendon Private LLC’s holdings in Bristol Myers Squibb were worth $479,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after acquiring an additional 306,430 shares during the period. Bank of New York Mellon Corp boosted its position in Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares during the period. Northern Trust Corp boosted its position in Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after acquiring an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP boosted its position in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. 76.41% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
BMY has been the subject of a number of analyst reports. Citigroup reduced their price target on 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. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research 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 objective for the company. in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average target price of $57.14.
Insiders Place Their Bets
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 transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Bristol Myers Squibb Trading Down 1.5%
Shares of NYSE BMY opened at $44.01 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a market cap of $89.57 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.25 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The business has a fifty day simple moving average of $46.26 and a 200-day simple moving average of $48.03.
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the business posted $2.07 earnings per share. Bristol Myers Squibb’s revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.
Bristol Myers Squibb Dividend Announcement
The firm also recently declared 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. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.
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.
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