Summit Financial LLC Purchases 4,648 Shares of Bristol Myers Squibb Company $BMY

Summit Financial LLC boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 32.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,881 shares of the biopharmaceutical company’s stock after purchasing an additional 4,648 shares during the period. Summit Financial LLC’s holdings in Bristol Myers Squibb were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BMY. Wellington Management Group LLP increased its holdings in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Ameriprise Financial Inc. increased its holdings in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. GQG Partners LLC increased its holdings in Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after purchasing an additional 10,913,708 shares during the period. Finally, Nuveen LLC purchased a new position in Bristol Myers Squibb during the 1st quarter valued at about $624,369,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMY. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a 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 target price on the stock. in a report on Tuesday, August 5th. Citigroup reduced their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $47.8420 on Friday. 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 business’s 50 day moving average price is $47.06 and its 200-day moving average price is $51.06. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The stock has a market cap of $97.38 billion, a P/E ratio of 19.29, a P/E/G ratio of 2.45 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the firm posted $2.07 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 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.