Morningstar Investment Management LLC Boosts Position in Bristol Myers Squibb Company $BMY

Morningstar Investment Management LLC boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMYFree Report) by 23.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,764 shares of the biopharmaceutical company’s stock after buying an additional 2,573 shares during the quarter. Morningstar Investment Management LLC’s holdings in Bristol Myers Squibb were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BMY. Wellington Management Group LLP lifted its stake in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. GQG Partners LLC raised 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 worth $733,310,000 after acquiring an additional 11,970,598 shares during the period. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth about $624,369,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Bristol Myers Squibb in the second quarter worth about $98,898,000. Finally, Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 8.6% in 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 acquiring an additional 2,131,205 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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 shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $43.55 on Tuesday. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market cap of $88.63 billion, a PE ratio of 17.56, a P/E/G ratio of 2.26 and a beta of 0.33. The stock has a 50 day moving average price of $46.22 and a 200 day moving average price of $47.84.

Bristol Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results 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 business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period last year, the company earned $2.07 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BMY shares. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. 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.com, the stock has a consensus rating of “Hold” and an average target price of $57.14.

View Our Latest Research Report on BMY

Bristol Myers Squibb Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Bristol Myers Squibb (NYSE:BMY)

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