Sippican Capital Advisors Buys 770 Shares of Bristol Myers Squibb Company $BMY

Sippican Capital Advisors lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 56,392 shares of the biopharmaceutical company’s stock after buying an additional 770 shares during the period. Bristol Myers Squibb accounts for approximately 1.9% of Sippican Capital Advisors’ holdings, making the stock its 8th largest holding. Sippican Capital Advisors’ holdings in Bristol Myers Squibb were worth $2,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Wellington Management Group LLP increased its position in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. GQG Partners LLC increased its position in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after acquiring an additional 11,970,598 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $624,369,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Bristol Myers Squibb in the second quarter valued at about $98,898,000. Finally, Bank of New York Mellon Corp increased its position in 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 buying an additional 2,131,205 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Down 1.5%

Shares of NYSE: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 PE ratio of 17.74, a P/E/G 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 issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The business’s revenue was up .6% on a year-over-year basis. 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 year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared 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. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BMY shares. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Citigroup lowered their price target 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. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Finally, Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One 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. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.14.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business’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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

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.