Verity Asset Management Inc. Trims Stake in Bristol Myers Squibb Company $BMY

Verity Asset Management Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 47.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,688 shares of the biopharmaceutical company’s stock after selling 17,450 shares during the quarter. Verity Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the first quarter worth approximately $31,000. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb in the second quarter worth $25,000. Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb in the first quarter worth $33,000. CBIZ Investment Advisory Services LLC increased its stake in Bristol Myers Squibb by 66.0% in the first 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 during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in Bristol Myers Squibb in the first quarter worth $36,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $46.10 on Monday. The firm has a market cap of $93.82 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.23 and a beta of 0.33. The company’s 50 day moving average is $45.34 and its 200 day moving average is $46.78. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the business posted $1.80 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS 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. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 83.78%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Finally, Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb 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.