AlphaStar Capital Management LLC Makes New Investment in Bristol Myers Squibb Company $BMY

AlphaStar Capital Management LLC bought a new position in Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,291 shares of the biopharmaceutical company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. New England Asset Management Inc. lifted its position in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 305 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after acquiring an additional 13,959 shares during the period. Sage Capital Advisors llc boosted its stake in shares of Bristol Myers Squibb by 60.7% in the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after acquiring an additional 32,181 shares during the period. Ransom Advisory Ltd bought a new position in shares of Bristol Myers Squibb in the first quarter worth about $843,000. Finally, Castle Rock Wealth Management LLC boosted its stake in shares of Bristol Myers Squibb by 458.2% in the second quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock worth $2,088,000 after acquiring an additional 36,576 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of research analyst reports. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. 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 report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $46.10 on Friday. The stock’s fifty day moving average is $45.34 and its 200 day moving average is $46.82. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The firm has a market capitalization of $93.82 billion, a PE ratio of 18.59, a PEG ratio of 2.23 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

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 value 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. This represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb 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.