Bristol Myers Squibb Company $BMY Holdings Raised by Concord Asset Management LLC VA

Concord Asset Management LLC VA lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 48.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,091 shares of the biopharmaceutical company’s stock after purchasing an additional 7,532 shares during the quarter. Concord Asset Management LLC VA’s holdings in Bristol Myers Squibb were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vest Financial LLC raised its stake in shares of Bristol Myers Squibb by 39.2% during the second quarter. Vest Financial LLC now owns 23,549 shares of the biopharmaceutical company’s stock valued at $1,090,000 after purchasing an additional 6,637 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Bristol Myers Squibb by 10.3% during the second quarter. Pzena Investment Management LLC now owns 14,843,475 shares of the biopharmaceutical company’s stock valued at $687,104,000 after purchasing an additional 1,384,649 shares in the last quarter. M.E. Allison & CO. Inc. raised its stake in shares of Bristol Myers Squibb by 18.2% during the second quarter. M.E. Allison & CO. Inc. now owns 8,761 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 1,348 shares in the last quarter. Cypress Capital Group grew its holdings in Bristol Myers Squibb by 2.2% during the second quarter. Cypress Capital Group now owns 73,839 shares of the biopharmaceutical company’s stock worth $3,418,000 after acquiring an additional 1,570 shares during the period. Finally, Bill Few Associates Inc. grew its holdings in Bristol Myers Squibb by 6.4% during the second quarter. Bill Few Associates Inc. now owns 10,595 shares of the biopharmaceutical company’s stock worth $490,000 after acquiring an additional 633 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research note 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 note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average price target of $57.14.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Bristol Myers Squibb Trading Down 1.5%

NYSE:BMY opened at $44.01 on Monday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock’s 50-day moving average is $46.26 and its two-hundred day moving average is $47.96. The stock has a market cap of $89.57 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, 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 firm 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. 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 100.00%.

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.