Bristol Myers Squibb Company $BMY Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 345,102 shares of the biopharmaceutical company’s stock after selling 8,440 shares during the period. QRG Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $15,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Street Advisors Inc. NC raised its holdings in Bristol Myers Squibb by 32.9% during the second quarter. Franklin Street Advisors Inc. NC now owns 472,621 shares of the biopharmaceutical company’s stock worth $21,878,000 after purchasing an additional 117,028 shares in the last quarter. Ascent Group LLC boosted its stake in Bristol Myers Squibb by 0.6% during the second quarter. Ascent Group LLC now owns 53,506 shares of the biopharmaceutical company’s stock valued at $2,477,000 after buying an additional 316 shares in the last quarter. New Century Financial Group LLC acquired a new position in Bristol Myers Squibb during the second quarter worth about $1,161,000. DHJJ Financial Advisors Ltd. raised its position in Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 267 shares in the last quarter. Finally, Abundance Wealth Counselors lifted its holdings in Bristol Myers Squibb by 3.9% in the 2nd quarter. Abundance Wealth Counselors now owns 36,399 shares of the biopharmaceutical company’s stock valued at $1,691,000 after acquiring an additional 1,360 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMY has been the topic of several recent research reports. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’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 transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $45.39 on Friday. 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 firm has a market capitalization of $92.38 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The company has a 50 day simple moving average of $46.36 and a 200-day simple moving average of $48.58. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The company’s revenue for the quarter 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 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 5.5%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

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.