BigSur Wealth Management LLC Decreases Stake in Bristol Myers Squibb Company $BMY

BigSur Wealth Management LLC cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 22,900 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. BigSur Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $1,060,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New England Asset Management Inc. raised its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 305 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after purchasing an additional 13,959 shares during the period. Sage Capital Advisors llc grew its position in shares of Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after buying an additional 32,181 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Bristol Myers Squibb during the 1st quarter valued at about $843,000. Finally, Avaii Wealth Management LLC increased its holdings in Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 67,221 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.6%

Shares of BMY stock opened at $44.20 on Thursday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The stock has a market cap of $89.96 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.30 and a beta of 0.35. The stock has a 50 day moving average of $46.79 and a 200 day moving average of $49.40. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the company earned $2.07 EPS. The business’s revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Insider Activity 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 stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of 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 position. The sale 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 subject of several analyst reports. 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. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Citigroup lowered their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 1st. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.38.

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.