Bristol Myers Squibb Company $BMY Holdings Cut by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,906 shares of the biopharmaceutical company’s stock after selling 334 shares during the period. Baxter Bros Inc.’s holdings in Bristol Myers Squibb were worth $551,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. raised its position in shares of Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 212 shares during the period. Exchange Capital Management Inc. raised its position in shares of Bristol Myers Squibb by 0.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after acquiring an additional 220 shares during the period. 1858 Wealth Management LLC lifted its holdings in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 221 shares in the last quarter. Parsons Capital Management Inc. RI grew its stake in Bristol Myers Squibb by 0.3% in the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after acquiring an additional 224 shares during the period. Finally, Richwood Investment Advisors LLC grew its stake in Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol Myers Squibb

In other 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 value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $44.55 on Thursday. The business’s 50 day moving average price is $46.24 and its two-hundred day moving average price is $48.33. The company has a market cap of $90.68 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.29 and a beta of 0.33. 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 Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for 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 business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BMY shares. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup cut their price target 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. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $57.14.

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.