Calamos Wealth Management LLC Trims Stock Position in Bristol Myers Squibb Company $BMY

Calamos Wealth Management LLC lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 7.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,522 shares of the biopharmaceutical company’s stock after selling 545 shares during the quarter. Calamos Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BMY. Wellington Management Group LLP raised its holdings in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the last quarter. Nuveen LLC purchased a new position in Bristol Myers Squibb in the first quarter valued at $624,369,000. Kingstone Capital Partners Texas LLC purchased a new position in Bristol Myers Squibb in the second quarter valued at $98,898,000. Finally, Bank of New York Mellon Corp increased its holdings in Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after buying an additional 2,131,205 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents 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. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut shares of 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Stock Performance

BMY opened at $43.63 on Monday. The firm has a market capitalization of $88.80 billion, a PE ratio of 17.59, a PEG ratio of 2.27 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. The firm’s 50-day moving average price is $46.07 and its 200 day moving average price is $47.40. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

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, beating the consensus estimate 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 net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. 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.