Bristol Myers Squibb Company $BMY Stock Position Raised by Magnus Financial Group LLC

Magnus Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 35.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,240 shares of the biopharmaceutical company’s stock after buying an additional 2,703 shares during the period. Magnus Financial Group LLC’s holdings in Bristol Myers Squibb were worth $474,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BMY. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates grew its position in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the 1st quarter worth about $31,000. Accent Capital Management LLC bought a new position in Bristol Myers Squibb in the 1st quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC grew its position in Bristol Myers Squibb by 66.0% in the 1st 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 last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.6%

BMY stock opened at $43.45 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The firm has a market cap of $88.44 billion, a PE ratio of 17.52, a P/E/G ratio of 2.26 and a beta of 0.35. The firm has a 50 day simple moving average of $46.70 and a 200 day simple moving average of $49.27. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the business earned $2.07 earnings per share. The business’s quarterly 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. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup decreased their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $56.38.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents 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 currently owned by corporate insiders.

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.