Fortis Capital Advisors LLC Acquires New Stake in Bristol Myers Squibb Company $BMY

Fortis Capital Advisors LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,901 shares of the biopharmaceutical company’s stock, valued at approximately $1,214,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after purchasing an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after purchasing an additional 306,430 shares during the period. Bank of New York Mellon Corp increased its holdings in Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. Northern Trust Corp increased its holdings in Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the firm’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 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 $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Bristol Myers Squibb Stock Up 1.1%

BMY opened at $47.25 on Wednesday. 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 business has a 50 day simple moving average of $47.09 and a 200-day simple moving average of $50.36. The stock has a market capitalization of $96.17 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.39 and a beta of 0.35. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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 business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the firm earned $2.07 EPS. The company’s quarterly 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. On average, 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

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.