Valley National Advisers Inc. Boosts Stake in Bristol Myers Squibb Company $BMY

Valley National Advisers Inc. lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 1.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 34,203 shares of the biopharmaceutical company’s stock after purchasing an additional 334 shares during the quarter. Valley National Advisers Inc.’s holdings in Bristol Myers Squibb were worth $1,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter worth $31,000. Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the first quarter worth about $33,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Bristol Myers Squibb by 66.0% during 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 last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb during the first quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of Bristol Myers Squibb by 51.9% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 0.7%

Bristol Myers Squibb stock opened at $45.39 on Monday. 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 capitalization of $92.38 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The business has a 50 day simple moving average of $46.36 and a 200-day simple moving average of $48.49. 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 released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 167,379 shares in the company, 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 is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMY shares. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday. Citigroup cut their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus target price of $56.38.

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.