Verdence Capital Advisors LLC Sells 30,642 Shares of Bristol Myers Squibb Company $BMY

Verdence Capital Advisors LLC decreased its position in Bristol Myers Squibb Company (NYSE:BMY) by 50.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,239 shares of the biopharmaceutical company’s stock after selling 30,642 shares during the period. Verdence Capital Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb in the second quarter worth $25,000. Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb in the first quarter worth $33,000. CBIZ Investment Advisory Services LLC lifted its stake in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 231 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in Bristol Myers Squibb in the first quarter worth $36,000. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $43.55 on Tuesday. The business has a fifty day simple moving average of $46.22 and a two-hundred day simple moving average of $47.84. 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 firm has a market capitalization of $88.63 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.26 and a beta of 0.33. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Finally, Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $57.14.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.