West Tower Group LLC Invests $370,000 in Bristol Myers Squibb Company $BMY

West Tower Group LLC purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,000 shares of the biopharmaceutical company’s stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new stake in Bristol Myers Squibb in the 2nd quarter valued at approximately $25,000. REAP Financial Group LLC increased its holdings in Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb in the 1st quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the 1st quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Bristol Myers Squibb by 66.0% in the 1st 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. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BMY. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Daiwa Capital Markets cut 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. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.23.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction on Tuesday, September 2nd. The shares were 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. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $43.63 on Monday. The stock has a market cap of $88.80 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.33. The company has a fifty day simple moving average of $46.07 and a 200-day simple moving average of $47.40. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

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, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

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.