Parsons Capital Management Inc. RI Has $3.62 Million Holdings in Bristol Myers Squibb Company $BMY

Parsons Capital Management Inc. RI grew its position in Bristol Myers Squibb Company (NYSE:BMY) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,105 shares of the biopharmaceutical company’s stock after purchasing an additional 224 shares during the period. Parsons Capital Management Inc. RI’s holdings in Bristol Myers Squibb were worth $3,615,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BMY. Brighton Jones LLC increased its position in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Bristol Myers Squibb by 102,110.0% during the 1st quarter. NBC Securities Inc. now owns 10,221 shares of the biopharmaceutical company’s stock valued at $623,000 after acquiring an additional 10,211 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Bristol Myers Squibb by 21.6% during the 1st quarter. Merit Financial Group LLC now owns 51,601 shares of the biopharmaceutical company’s stock valued at $3,147,000 after acquiring an additional 9,166 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Bristol Myers Squibb by 67.1% during the 1st quarter. RFG Advisory LLC now owns 27,915 shares of the biopharmaceutical company’s stock valued at $1,703,000 after acquiring an additional 11,208 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Bristol Myers Squibb during the 1st quarter valued at about $200,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Citigroup decreased their target price on 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, Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $56.38.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 completion of the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Up 5.1%

Shares of BMY opened at $47.39 on Thursday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a 50 day simple moving average of $46.49 and a 200-day simple moving average of $48.85. The stock has a market cap of $96.47 billion, a PE ratio of 19.11, a PEG ratio of 2.31 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (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 business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb’s quarterly 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. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal 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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

Bristol Myers Squibb Company 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.