GWN Securities Inc. Sells 65,854 Shares of Bristol Myers Squibb Company $BMY

GWN Securities Inc. trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 87.1% in the second quarter, Holdings Channel reports. The fund owned 9,766 shares of the biopharmaceutical company’s stock after selling 65,854 shares during the period. GWN Securities Inc.’s holdings in Bristol Myers Squibb were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BMY. Trifecta Capital Advisors LLC acquired a new position in shares of Bristol Myers Squibb in the second quarter valued at approximately $25,000. REAP Financial Group LLC lifted its position 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 acquiring an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the 1st quarter valued at $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb in the 1st quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC increased its holdings in 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 worth $35,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

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

Bristol Myers Squibb Trading Down 1.3%

Shares of Bristol Myers Squibb stock opened at $42.82 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The business has a fifty day simple moving average of $45.54 and a two-hundred day simple moving average of $46.92. Bristol Myers Squibb Company has a 1 year low of $42.75 and a 1 year high of $63.33. The company has a market capitalization of $87.16 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.27 and a beta of 0.33.

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. 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 quarter in the previous year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

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.