Mirae Asset Global Investments Co. Ltd. Increases Stake in Bristol Myers Squibb Company $BMY

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 27.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,118,317 shares of the biopharmaceutical company’s stock after purchasing an additional 454,160 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bristol Myers Squibb were worth $98,057,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. boosted its holdings in shares of Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC boosted its holdings in shares of Bristol Myers Squibb by 3.6% during the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 221 shares during the last quarter. Parsons Capital Management Inc. RI boosted its holdings in shares of Bristol Myers Squibb by 0.3% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after acquiring an additional 224 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company’s stock valued at $1,038,000 after acquiring an additional 225 shares during the last quarter. Finally, Lipe & Dalton boosted its holdings in shares of Bristol Myers Squibb by 0.4% during the 1st quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock valued at $3,476,000 after acquiring an additional 230 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Bristol Myers Squibb Price Performance

NYSE BMY opened at $45.75 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The stock has a market cap of $93.12 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.43 and a beta of 0.33. The company’s 50 day moving average is $46.42 and its two-hundred day moving average is $48.76. 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 (NYSE:BMY) last released 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the business 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. As a group, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

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.