Wealthedge Investment Advisors LLC Buys Shares of 96,686 Bristol Myers Squibb Company $BMY

Wealthedge Investment Advisors LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,686 shares of the biopharmaceutical company’s stock, valued at approximately $4,476,000. Bristol Myers Squibb makes up about 1.9% of Wealthedge Investment Advisors LLC’s holdings, making the stock its 15th biggest position.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Bristol Myers Squibb by 33.4% in the fourth 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 during the period. TIAA Trust National Association increased its stake in Bristol Myers Squibb by 24.5% in the 1st quarter. TIAA Trust National Association now owns 119,923 shares of the biopharmaceutical company’s stock worth $7,314,000 after acquiring an additional 23,625 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at about $7,451,000. J. Safra Sarasin Holding AG boosted its position in shares of Bristol Myers Squibb by 18.7% during the 1st quarter. J. Safra Sarasin Holding AG now owns 21,990 shares of the biopharmaceutical company’s stock valued at $1,341,000 after acquiring an additional 3,457 shares during the last quarter. Finally, Cheviot Value Management LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter worth about $252,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BMY shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Finally, Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.42.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’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 in the company, valued at approximately $7,922,048.07. This 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.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $49.18 on Monday. The firm has a market capitalization of $100.11 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.23 and a beta of 0.33. The stock has a fifty day moving average of $45.59 and a 200 day moving average of $46.65. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a $0.62 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.0%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 83.78%.

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.