Manning & Napier Advisors LLC Lowers Stake in Bristol Myers Squibb Company $BMY

Manning & Napier Advisors LLC cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 46.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 211,054 shares of the biopharmaceutical company’s stock after selling 182,839 shares during the period. Manning & Napier Advisors LLC’s holdings in Bristol Myers Squibb were worth $9,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $25,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at about $25,000. Harbor Capital Advisors Inc. grew its holdings in shares of Bristol Myers Squibb by 107.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 313 shares during the period. REAP Financial Group LLC increased its position in Bristol Myers Squibb by 202.8% during the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 428 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. raised its holdings in Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 267 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $55.93 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The firm’s 50-day simple moving average is $51.33 and its 200-day simple moving average is $47.94. The firm has a market cap of $113.86 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 9.23 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the company earned $1.80 earnings per share. Bristol Myers Squibb’s quarterly revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.63 dividend. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.5%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Morgan Stanley reissued an “underweight” rating and issued a $37.00 target price (up previously from $36.00) on shares of Bristol Myers Squibb in a research note on Friday, December 12th. HSBC reissued a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday, December 10th. Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Finally, Guggenheim restated a “buy” rating on shares of Bristol Myers Squibb in a report on Tuesday, December 23rd. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.86.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.