Eastern Bank Sells 3,031 Shares of Bristol Myers Squibb Company $BMY

Eastern Bank cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 8.6% in the second quarter, Holdings Channel reports. The institutional investor owned 32,379 shares of the biopharmaceutical company’s stock after selling 3,031 shares during the period. Eastern Bank’s holdings in Bristol Myers Squibb were worth $1,499,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trifecta Capital Advisors LLC bought a new position in shares of Bristol Myers Squibb during the second quarter worth about $25,000. REAP Financial Group LLC grew its holdings in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the first quarter worth about $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb during the first quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in 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 valued at $35,000 after purchasing an additional 231 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BMY shares. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Citigroup reduced their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average target price of $57.14.

Bristol Myers Squibb Stock Performance

BMY opened at $44.01 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market cap of $89.57 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.25 and a beta of 0.33. The business has a 50 day moving average of $46.26 and a 200-day moving average of $48.03. 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 (NYSE:BMY) last released its quarterly earnings data 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 company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

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.