Wendell David Associates Inc. Cuts Position in Bristol Myers Squibb Company $BMY

Wendell David Associates Inc. decreased its position in Bristol Myers Squibb Company (NYSE:BMY) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,631 shares of the biopharmaceutical company’s stock after selling 1,013 shares during the quarter. Wendell David Associates Inc.’s holdings in Bristol Myers Squibb were worth $862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. REAP Financial Group LLC grew its stake in shares of Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the first quarter worth $31,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $43.63 on Friday. 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 fifty day moving average price of $46.07 and a 200 day moving average price of $47.47. The company has a market cap of $88.80 billion, a P/E ratio of 17.59, a PEG 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 issued 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. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were 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 in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.23.

Bristol Myers Squibb 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.