Bristol Myers Squibb Company $BMY Shares Sold by Main Street Research LLC

Main Street Research LLC lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 10.1% in the second quarter, Holdings Channel.com reports. The firm owned 14,607 shares of the biopharmaceutical company’s stock after selling 1,643 shares during the quarter. Main Street Research LLC’s holdings in Bristol Myers Squibb were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. lifted its position in Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 212 shares during the period. Exchange Capital Management Inc. lifted its position in Bristol Myers Squibb by 0.4% in the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after purchasing an additional 220 shares during the period. Parsons Capital Management Inc. RI increased its holdings in shares of Bristol Myers Squibb by 0.3% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after purchasing an additional 224 shares in the last quarter. Richwood Investment Advisors LLC increased its holdings in shares of Bristol Myers Squibb by 1.7% in the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after purchasing an additional 225 shares in the last quarter. Finally, Lipe & Dalton increased its holdings in shares of Bristol Myers Squibb by 0.4% in the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction dated 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 trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMY. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and an average price target of $57.23.

Bristol Myers Squibb Trading Down 1.0%

Shares of Bristol Myers Squibb stock opened at $45.58 on Wednesday. The business has a 50 day moving average price of $45.28 and a 200 day moving average price of $46.73. The company has a market capitalization of $92.79 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.23 and a beta of 0.33. 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 Company has a 1 year low of $42.52 and a 1 year high of $63.33.

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, topping 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 during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $1.80 earnings per share. Bristol Myers Squibb’s 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. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

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.