West Michigan Advisors LLC Acquires New Shares in Bristol Myers Squibb Company $BMY

West Michigan Advisors LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,002 shares of the biopharmaceutical company’s stock, valued at approximately $370,000.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted 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 boosted 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 acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC acquired a new position in Bristol Myers Squibb in the second quarter valued at $98,898,000. Finally, Bank of New York Mellon Corp boosted 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 acquiring an additional 2,131,205 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $43.84 on Friday. The stock has a market cap of $89.24 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.29 and a beta of 0.33. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The stock’s 50 day moving average price is $45.75 and its 200 day moving average price is $47.14. 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 (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (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 company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts anticipate 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 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 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 167,379 shares in the company, 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 at this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $57.23.

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.