Meiji Yasuda Asset Management Co Ltd. Buys 1,752 Shares of Bristol Myers Squibb Company $BMY

Meiji Yasuda Asset Management Co Ltd. raised its stake in Bristol Myers Squibb Company (NYSE:BMY) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,031 shares of the biopharmaceutical company’s stock after purchasing an additional 1,752 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bristol Myers Squibb were worth $2,198,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates grew its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the first quarter valued at approximately $31,000. Finally, Accent Capital Management LLC bought a new position in Bristol Myers Squibb in the first quarter valued at approximately $33,000. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $47.25 on Wednesday. The stock has a market cap of $96.17 billion, a P/E ratio of 19.05, a PEG ratio of 2.39 and a beta of 0.35. The stock has a 50 day simple moving average of $47.09 and a 200 day simple moving average of $50.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The business 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 firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. 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 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. 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%.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.07% of the company’s stock.

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.