Bristol Myers Squibb Company $BMY Stock Position Lowered by RMR Wealth Builders

RMR Wealth Builders lessened its position in Bristol Myers Squibb Company (NYSE:BMY) by 19.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,331 shares of the biopharmaceutical company’s stock after selling 1,016 shares during the quarter. RMR Wealth Builders’ holdings in Bristol Myers Squibb were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after buying an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. Northern Trust Corp raised its position in shares of Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup cut their target price 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. Finally, Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated 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 sale, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY opened at $46.34 on Tuesday. The company has a market cap of $94.32 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35. The stock has a 50-day moving average of $47.07 and a 200-day moving average of $49.98. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last released 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 company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Company 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.