Rhumbline Advisers Boosts Stake in Bristol Myers Squibb Company $BMY

Rhumbline Advisers lifted its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,793,489 shares of the biopharmaceutical company’s stock after purchasing an additional 246,546 shares during the quarter. Rhumbline Advisers owned about 0.19% of Bristol Myers Squibb worth $175,600,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New England Asset Management Inc. increased its stake in 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 worth $2,408,000 after buying an additional 305 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in Bristol Myers Squibb by 24.6% in the second quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after acquiring an additional 11,690 shares during the last quarter. Sage Capital Advisors llc grew its holdings in shares of Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after purchasing an additional 32,181 shares during the period. Finally, Sound View Wealth Advisors Group LLC increased its position in shares of Bristol Myers Squibb by 438.0% during the second quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock valued at $14,250,000 after acquiring an additional 250,624 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristol Myers Squibb

In other 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 completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Trading Up 0.6%

NYSE BMY opened at $46.22 on Friday. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The stock has a market cap of $94.09 billion, a P/E ratio of 18.64, a PEG ratio of 2.23 and a beta of 0.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The company’s fifty day simple moving average is $45.28 and its 200-day simple moving average is $46.57.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period last year, the business 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 research analysts predict 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 was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 83.78%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup decreased their price target on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Finally, Scotiabank initiated coverage on Bristol Myers Squibb in a research note on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.42.

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.