Concurrent Investment Advisors LLC Grows Stake in Bristol Myers Squibb Company $BMY

Concurrent Investment Advisors LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,452 shares of the biopharmaceutical company’s stock after buying an additional 7,578 shares during the period. Concurrent Investment Advisors LLC’s holdings in Bristol Myers Squibb were worth $3,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb during the second quarter valued at $25,000. REAP Financial Group LLC lifted its position in Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb during the first quarter valued at $31,000. Accent Capital Management LLC purchased a new position in Bristol Myers Squibb during the first quarter valued at $33,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Stock Down 0.9%

Bristol Myers Squibb stock opened at $43.55 on Tuesday. The business has a fifty day moving average of $46.22 and a two-hundred day moving average of $47.84. 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 firm has a market cap of $88.63 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during 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%.Bristol Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, 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 business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued 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 5.7%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday. One 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 stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $57.14.

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.