Sigma Investment Counselors Inc. Increases Stake in Bristol Myers Squibb Company $BMY

Sigma Investment Counselors Inc. increased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,818 shares of the biopharmaceutical company’s stock after acquiring an additional 2,780 shares during the period. Sigma Investment Counselors Inc.’s holdings in Bristol Myers Squibb were worth $1,658,000 as of its most recent SEC filing.

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

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company’s 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 sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMY shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.23.

Bristol Myers Squibb Stock Up 0.5%

BMY opened at $43.63 on Friday. The stock’s 50 day moving average price is $46.07 and its 200 day moving average price is $47.47. 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 has a market cap of $88.80 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month 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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during 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 for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.7%. 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.