Conning Inc. Has $33.17 Million Stake in Bristol Myers Squibb Company $BMY

Conning Inc. increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 20.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,621 shares of the biopharmaceutical company’s stock after acquiring an additional 120,894 shares during the period. Conning Inc.’s holdings in Bristol Myers Squibb were worth $33,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trust Co. of Toledo NA OH increased its stake in Bristol Myers Squibb by 1.7% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 47,935 shares of the biopharmaceutical company’s stock valued at $2,219,000 after buying an additional 795 shares during the last quarter. Aberdeen Group plc increased its stake in Bristol Myers Squibb by 8.7% in the 2nd quarter. Aberdeen Group plc now owns 3,093,360 shares of the biopharmaceutical company’s stock valued at $143,810,000 after buying an additional 246,366 shares during the last quarter. JB Capital LLC increased its stake in Bristol Myers Squibb by 7.6% in the 2nd quarter. JB Capital LLC now owns 5,579 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 393 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its stake in Bristol Myers Squibb by 13.1% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 10,396 shares of the biopharmaceutical company’s stock valued at $481,000 after buying an additional 1,205 shares during the last quarter. Finally, Cascade Investment Group Inc. increased its stake in Bristol Myers Squibb by 7.0% in the 2nd quarter. Cascade Investment Group Inc. now owns 6,114 shares of the biopharmaceutical company’s stock valued at $283,000 after buying an additional 400 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BMY shares. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Citigroup decreased their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $44.01 on Friday. The company has a market cap of $89.57 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.33. 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 company has a 50 day moving average of $46.26 and a 200-day moving average of $48.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The business 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 firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 Announces Dividend

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

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.