Bristol Myers Squibb Company $BMY Shares Sold by Colrain Capital LLC

Colrain Capital LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,000 shares of the biopharmaceutical company’s stock after selling 9,000 shares during the quarter. Bristol Myers Squibb makes up about 4.4% of Colrain Capital LLC’s investment portfolio, making the stock its 9th largest holding. Colrain Capital LLC’s holdings in Bristol Myers Squibb were worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in 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 worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. GQG Partners LLC boosted its holdings in 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 purchasing an additional 11,970,598 shares during the period. Nuveen LLC acquired a new position in Bristol Myers Squibb in the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC acquired a new position in Bristol Myers Squibb in the second quarter worth $98,898,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 2,131,205 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was 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 available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $46.10 on Friday. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The firm’s 50-day simple moving average is $45.34 and its 200 day simple moving average is $46.80. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a market cap of $93.82 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 83.78%.

Analysts Set New Price Targets

A number of research firms have commented on BMY. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.23.

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.