Ethic Inc. Reduces Stake in Bristol Myers Squibb Company $BMY

Ethic Inc. lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,756 shares of the biopharmaceutical company’s stock after selling 12,281 shares during the period. Ethic Inc.’s holdings in Bristol Myers Squibb were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BMY. Brighton Jones LLC boosted its position in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares in the last quarter. GAMMA Investing LLC boosted its position in Bristol Myers Squibb by 18.8% in the 1st quarter. GAMMA Investing LLC now owns 39,685 shares of the biopharmaceutical company’s stock worth $2,420,000 after purchasing an additional 6,267 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Bristol Myers Squibb by 129.4% in the 1st quarter. Golden State Wealth Management LLC now owns 8,073 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 4,554 shares in the last quarter. Tyche Wealth Partners LLC boosted its position in Bristol Myers Squibb by 10.3% in the 1st quarter. Tyche Wealth Partners LLC now owns 6,321 shares of the biopharmaceutical company’s stock worth $386,000 after purchasing an additional 592 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in Bristol Myers Squibb by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 62,298 shares of the biopharmaceutical company’s stock worth $3,800,000 after purchasing an additional 2,205 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Down 1.3%

NYSE BMY opened at $43.81 on Friday. The business has a fifty day moving average price of $45.84 and a 200 day moving average price of $47.20. Bristol Myers Squibb Company has a one year low of $42.96 and a one year 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 company has a market cap of $89.17 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.32 and a beta of 0.33.

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

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment 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 MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.23.

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.