Fred Alger Management LLC Has $4.56 Million Position in Bristol Myers Squibb Company $BMY

Fred Alger Management LLC lowered its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 42.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,819 shares of the biopharmaceutical company’s stock after selling 54,945 shares during the quarter. Fred Alger Management LLC’s holdings in Bristol Myers Squibb were worth $4,563,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Marcum Wealth LLC boosted its holdings in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after acquiring an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC boosted its holdings in Bristol Myers Squibb by 3.6% during the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 221 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Bristol Myers Squibb by 2.5% during the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company’s stock worth $558,000 after acquiring an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company’s stock worth $1,038,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Trading Up 1.1%

NYSE BMY opened at $47.25 on Wednesday. The stock has a market capitalization of $96.17 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.39 and a beta of 0.35. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The business’s fifty day moving average is $47.09 and its 200-day moving average is $50.36.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the business posted $2.07 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

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.