7,893 Shares in Bristol Myers Squibb Company $BMY Purchased by Summitry LLC

Summitry LLC bought a new stake in Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,893 shares of the biopharmaceutical company’s stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in Bristol Myers Squibb by 31.2% during the second quarter. Rockefeller Capital Management L.P. now owns 722,714 shares of the biopharmaceutical company’s stock worth $33,454,000 after purchasing an additional 171,913 shares in the last quarter. Cornerstone Advisors LLC increased its position in shares of Bristol Myers Squibb by 128.4% during the 2nd quarter. Cornerstone Advisors LLC now owns 227,000 shares of the biopharmaceutical company’s stock valued at $10,508,000 after purchasing an additional 127,600 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Bristol Myers Squibb by 25.1% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 44,213 shares of the biopharmaceutical company’s stock worth $2,047,000 after buying an additional 8,876 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Bristol Myers Squibb by 5.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 107,507 shares of the biopharmaceutical company’s stock valued at $4,976,000 after buying an additional 5,691 shares during the period. Finally, Paragon Capital Management LLC boosted its stake in Bristol Myers Squibb by 2.8% during the second quarter. Paragon Capital Management LLC now owns 18,497 shares of the biopharmaceutical company’s stock valued at $856,000 after buying an additional 503 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several research reports. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Scotiabank began coverage on Bristol Myers Squibb in a research note on Thursday. They set a “sector perform” rating and a $45.00 price objective for the company. Finally, 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 report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.58.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business’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 $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $46.67 on Friday. The business’s 50-day moving average is $45.34 and its 200-day moving average is $46.68. 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 company has a market capitalization of $95.00 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the firm posted $1.80 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities research analysts expect 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 was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 83.78%.

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.