Te Ahumairangi Investment Management Ltd Boosts Holdings in Bristol Myers Squibb Company $BMY

Te Ahumairangi Investment Management Ltd raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 42.3% in the second quarter, Holdings Channel reports. The institutional investor owned 83,227 shares of the biopharmaceutical company’s stock after acquiring an additional 24,730 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Bristol Myers Squibb were worth $3,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BMY. Exchange Capital Management Inc. increased its stake in shares of Bristol Myers Squibb by 0.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after purchasing an additional 220 shares in the last quarter. Parsons Capital Management Inc. RI grew its holdings in Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after purchasing an additional 224 shares during the period. Richwood Investment Advisors LLC increased its position in Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock worth $616,000 after buying an additional 225 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 231 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Bristol Myers Squibb by 26.7% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,123 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Finally, Citigroup lowered their price objective on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 17th. Four research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average target price of $54.42.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY opened at $49.05 on Wednesday. The company has a market cap of $99.84 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm’s fifty day moving average is $45.37 and its two-hundred day moving average is $46.58.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate 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 business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The business’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. As a group, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. Bristol Myers Squibb’s payout ratio is presently 83.78%.

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.