Bristol Myers Squibb Company $BMY Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,492,859 shares of the biopharmaceutical company’s stock after selling 284,931 shares during the quarter. Panagora Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $115,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMY. Wealthedge Investment Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at $4,476,000. VestGen Advisors LLC boosted its holdings in Bristol Myers Squibb by 18.7% in the second quarter. VestGen Advisors LLC now owns 4,474 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 706 shares during the last quarter. Railway Pension Investments Ltd grew its position in Bristol Myers Squibb by 164.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 1,099,300 shares of the biopharmaceutical company’s stock worth $50,887,000 after purchasing an additional 683,500 shares during the period. West Family Investments Inc. raised its stake in shares of Bristol Myers Squibb by 78.2% during the 2nd quarter. West Family Investments Inc. now owns 10,857 shares of the biopharmaceutical company’s stock valued at $503,000 after buying an additional 4,766 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Bristol Myers Squibb by 35.4% in the 2nd quarter. Schroder Investment Management Group now owns 13,694,059 shares of the biopharmaceutical company’s stock valued at $633,898,000 after buying an additional 3,583,855 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business’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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Stock Performance

BMY opened at $49.18 on Monday. The firm’s fifty day simple moving average is $45.59 and its two-hundred day simple moving average is $46.65. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a market cap of $100.11 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.23 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 83.78%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BMY. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Citigroup decreased their target price on shares of Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.42.

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.