Hedges Asset Management LLC Trims Stock Holdings in Bristol Myers Squibb Company $BMY

Hedges Asset Management LLC lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 52.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,100 shares of the biopharmaceutical company’s stock after selling 18,700 shares during the period. Hedges Asset Management LLC’s holdings in Bristol Myers Squibb were worth $792,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMY. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after buying an additional 17,750,938 shares during the last quarter. GQG Partners LLC lifted its holdings in Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the last quarter. Nuveen LLC bought a new position in Bristol Myers Squibb during the 1st quarter worth approximately $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bristol Myers Squibb by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company’s stock worth $1,259,690,000 after buying an additional 3,196,919 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Bristol Myers Squibb by 7,142.8% during the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company’s stock worth $147,619,000 after buying an additional 2,386,970 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup dropped their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. 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 Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.38.

Bristol Myers Squibb Stock Down 2.8%

BMY opened at $46.22 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market cap of $94.08 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. The stock’s 50 day moving average price is $47.08 and its 200 day moving average price is $50.13.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the firm 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 predict 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. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.