Eastern Bank Has $1.50 Million Holdings in Bristol Myers Squibb Company $BMY

Eastern Bank lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,379 shares of the biopharmaceutical company’s stock after selling 3,031 shares during the quarter. Eastern Bank’s holdings in Bristol Myers Squibb were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Aberdeen Group plc grew its holdings in shares of Bristol Myers Squibb by 8.7% during the 2nd quarter. Aberdeen Group plc now owns 3,093,360 shares of the biopharmaceutical company’s stock worth $143,810,000 after purchasing an additional 246,366 shares in the last quarter. JB Capital LLC grew its holdings in shares of Bristol Myers Squibb by 7.6% during the 2nd quarter. JB Capital LLC now owns 5,579 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 393 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in shares of Bristol Myers Squibb by 13.1% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 10,396 shares of the biopharmaceutical company’s stock worth $481,000 after purchasing an additional 1,205 shares in the last quarter. Cascade Investment Group Inc. grew its holdings in shares of Bristol Myers Squibb by 7.0% during the 2nd quarter. Cascade Investment Group Inc. now owns 6,114 shares of the biopharmaceutical company’s stock worth $283,000 after purchasing an additional 400 shares in the last quarter. Finally, 3Chopt Investment Partners LLC boosted its stake in Bristol Myers Squibb by 10.1% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 62,786 shares of the biopharmaceutical company’s stock valued at $2,906,000 after buying an additional 5,760 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Citigroup lowered their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $57.14.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $44.01 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. The firm has a market cap of $89.57 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.25 and a beta of 0.33. The business’s fifty day moving average is $46.26 and its two-hundred day moving average is $48.03. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 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.