Empirical Financial Services LLC d.b.a. Empirical Wealth Management Trims Stake in Bristol Myers Squibb Company $BMY

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,779 shares of the biopharmaceutical company’s stock after selling 2,067 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Bristol Myers Squibb were worth $3,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. raised its stake 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 valued at $492,000 after acquiring an additional 212 shares during the last quarter. Exchange Capital Management Inc. raised its stake in Bristol Myers Squibb by 0.4% during the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after acquiring an additional 220 shares during the last quarter. 1858 Wealth Management LLC raised its stake 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 valued at $392,000 after acquiring an additional 221 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in Bristol Myers Squibb by 0.3% during 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 acquiring an additional 224 shares during the last quarter. Finally, Lipe & Dalton raised its stake in Bristol Myers Squibb by 0.4% during the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after acquiring an additional 230 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bristol Myers Squibb

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 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 owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY opened at $45.39 on Friday. The stock has a market cap of $92.38 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.34 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. The stock’s 50 day simple moving average is $46.36 and its 200 day simple moving average is $48.65. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities 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 will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BMY. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. 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 report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.38.

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.