Bank of Montreal Can Sells 308,612 Shares of Bristol Myers Squibb Company $BMY

Bank of Montreal Can lessened its position in Bristol Myers Squibb Company (NYSE:BMY) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,328,855 shares of the biopharmaceutical company’s stock after selling 308,612 shares during the period. Bank of Montreal Can owned approximately 0.11% of Bristol Myers Squibb worth $107,803,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Benchmark Financial Wealth Advisors LLC increased its stake in Bristol Myers Squibb by 8.6% in the second quarter. Benchmark Financial Wealth Advisors LLC now owns 24,500 shares of the biopharmaceutical company’s stock valued at $1,134,000 after purchasing an additional 1,934 shares in the last quarter. Telos Capital Management Inc. increased its stake in Bristol Myers Squibb by 3.4% in the second quarter. Telos Capital Management Inc. now owns 113,451 shares of the biopharmaceutical company’s stock valued at $5,252,000 after purchasing an additional 3,739 shares in the last quarter. Sigma Planning Corp increased its stake in Bristol Myers Squibb by 10.3% in the second quarter. Sigma Planning Corp now owns 73,498 shares of the biopharmaceutical company’s stock valued at $3,402,000 after purchasing an additional 6,879 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Bristol Myers Squibb by 50.8% in the second quarter. iA Global Asset Management Inc. now owns 131,333 shares of the biopharmaceutical company’s stock valued at $6,079,000 after purchasing an additional 44,249 shares in the last quarter. Finally, Cambiar Investors LLC increased its stake in Bristol Myers Squibb by 0.7% in the second quarter. Cambiar Investors LLC now owns 1,019,150 shares of the biopharmaceutical company’s stock valued at $47,176,000 after purchasing an additional 7,216 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. 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 report on Tuesday, August 5th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Stock Performance

BMY opened at $45.96 on Tuesday. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The firm has a market capitalization of $93.55 billion, a PE ratio of 18.53, a PEG ratio of 2.23 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business’s 50-day simple moving average is $45.32 and its 200 day simple moving average is $46.76.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $11.75 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. Bristol Myers Squibb’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. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

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 shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently 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.