Townsend & Associates Inc Has $2.33 Million Stake in Bristol Myers Squibb Company $BMY

Townsend & Associates Inc grew its position in Bristol Myers Squibb Company (NYSE:BMY) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,133 shares of the biopharmaceutical company’s stock after purchasing an additional 791 shares during the period. Townsend & Associates Inc’s holdings in Bristol Myers Squibb were worth $2,331,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BMY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb during the first quarter valued at $31,000. Trifecta Capital Advisors LLC bought a new stake in shares of Bristol Myers Squibb during the second quarter worth approximately $25,000. Accent Capital Management LLC bought a new position in Bristol Myers Squibb in the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 231 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Trading Up 0.5%

BMY opened at $43.63 on Monday. The firm has a market capitalization of $88.80 billion, a PE ratio of 17.59, a P/E/G ratio of 2.27 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company’s 50-day moving average is $46.07 and its 200 day moving average is $47.40.

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, topping the consensus estimate 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 firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the business posted $2.07 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction 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 transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% 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.