Bristol Myers Squibb Company $BMY Stock Position Trimmed by Triumph Capital Management

Triumph Capital Management cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 52.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,399 shares of the biopharmaceutical company’s stock after selling 13,828 shares during the quarter. Triumph Capital Management’s holdings in Bristol Myers Squibb were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BMY. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth about $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb during the 1st quarter worth about $31,000. Finally, Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb during the 1st quarter worth about $33,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $46.30 on Wednesday. The company’s 50 day moving average price is $47.06 and its 200 day moving average price is $49.95. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a market capitalization of $94.24 billion, a PE ratio of 18.67, a PEG ratio of 2.37 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on BMY shares. Citigroup dropped their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $56.38.

Insider Buying and Selling

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 shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

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.