Bank of New York Mellon Corp Reduces Position in Bristol Myers Squibb Company $BMY

Bank of New York Mellon Corp cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 22.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,861,369 shares of the biopharmaceutical company’s stock after selling 6,003,704 shares during the period. Bank of New York Mellon Corp owned 1.03% of Bristol Myers Squibb worth $965,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BMY. Trifecta Capital Advisors LLC purchased a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at about $25,000. REAP Financial Group LLC increased its holdings in shares of Bristol Myers Squibb by 202.8% in the 2nd 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 shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $33,000. Finally, CBIZ Investment Advisory Services LLC increased its holdings in shares of Bristol Myers Squibb by 66.0% in the 1st 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 owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 completion of the transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.23.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $46.10 on Monday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33. The stock has a market capitalization of $93.82 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.23 and a beta of 0.33. The firm’s 50-day moving average is $45.34 and its two-hundred day moving average is $46.78. 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 released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company earned $1.80 EPS. The firm’s revenue for the quarter 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. Equities analysts predict 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

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.