Louisiana State Employees Retirement System Sells 1,700 Shares of Bristol Myers Squibb Company $BMY

Louisiana State Employees Retirement System decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 1.6% in the second quarter, Holdings Channel reports. The firm owned 107,400 shares of the biopharmaceutical company’s stock after selling 1,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bristol Myers Squibb were worth $4,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. Brighton Jones LLC increased its holdings in shares of 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. Farther Finance Advisors LLC grew its holdings in shares of Bristol Myers Squibb by 59.3% in the first quarter. Farther Finance Advisors LLC now owns 35,912 shares of the biopharmaceutical company’s stock worth $2,139,000 after acquiring an additional 13,372 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of Bristol Myers Squibb by 6.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 46,927 shares of the biopharmaceutical company’s stock worth $2,862,000 after acquiring an additional 3,041 shares during the period. GAMMA Investing LLC grew its holdings in shares of Bristol Myers Squibb by 18.8% in the first quarter. GAMMA Investing LLC now owns 39,685 shares of the biopharmaceutical company’s stock worth $2,420,000 after acquiring an additional 6,267 shares during the period. Finally, Simplicity Wealth LLC bought a new stake in shares of Bristol Myers Squibb in the first quarter worth $265,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $44.55 on Thursday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The business’s 50-day moving average is $46.24 and its 200 day moving average is $48.33. The company has a market capitalization of $90.68 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.29 and a beta of 0.33.

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

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other 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 transaction, the executive vice president 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.14.

Bristol Myers Squibb Company 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.