Bristol Myers Squibb Company $BMY Stock Position Raised by Valmark Advisers Inc.

Valmark Advisers Inc. lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 62.5% in the 2nd quarter, Holdings Channel reports. The fund owned 6,887 shares of the biopharmaceutical company’s stock after buying an additional 2,650 shares during the period. Valmark Advisers Inc.’s holdings in Bristol Myers Squibb were worth $319,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMY. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC increased its stake 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 valued at $35,000 after buying an additional 231 shares during the period. GKV Capital Management Co. Inc. acquired a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $36,000. Finally, EQ Wealth Advisors LLC acquired a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.14.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction that occurred 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 approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $44.01 on Friday. The firm has a market cap of $89.57 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.33. The firm’s 50-day simple moving average is $46.26 and its 200-day simple moving average is $48.11. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY) last announced 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 net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the company earned $2.07 earnings per share. The company’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. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed 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 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

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.