Park Avenue Securities LLC Has $1.69 Million Position in Bristol Myers Squibb Company $BMY

Park Avenue Securities LLC reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 45.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,565 shares of the biopharmaceutical company’s stock after selling 30,214 shares during the quarter. Park Avenue Securities LLC’s holdings in Bristol Myers Squibb were worth $1,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New England Asset Management Inc. lifted its holdings in Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after purchasing an additional 305 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares during the last quarter. Sage Capital Advisors llc lifted its holdings in Bristol Myers Squibb by 60.7% in the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after purchasing an additional 32,181 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Bristol Myers Squibb in the 1st quarter worth approximately $843,000. Finally, Avaii Wealth Management LLC lifted its holdings in Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after purchasing an additional 67,221 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This 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 at this hyperlink. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Bristol Myers Squibb Stock Performance

BMY opened at $43.45 on Friday. The stock 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 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 Company has a 1 year low of $42.96 and a 1 year high of $63.33. The stock’s 50 day simple moving average is $46.70 and its 200-day simple moving average is $49.27.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating 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 prior year, the business posted $2.07 earnings per share. The business’s revenue 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. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 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.