Curbstone Financial Management Corp Reduces Position in Bristol Myers Squibb Company $BMY

Curbstone Financial Management Corp reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 13.7% during the second quarter, HoldingsChannel.com reports. The firm owned 18,934 shares of the biopharmaceutical company’s stock after selling 3,012 shares during the period. Curbstone Financial Management Corp’s holdings in Bristol Myers Squibb were worth $876,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. Northern Trust Corp grew its stake in Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after acquiring an additional 1,316,144 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol Myers Squibb Trading Up 0.5%

NYSE:BMY opened at $43.63 on Friday. The stock has a market capitalization of $88.80 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.25 and a beta of 0.33. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm has a 50 day moving average of $46.07 and a 200 day moving average of $47.55.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) 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 the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BMY shares. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday. Finally, Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb 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.