Means Investment CO. Inc. Lowers Holdings in Bristol Myers Squibb Company $BMY

Means Investment CO. Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 10.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,596 shares of the biopharmaceutical company’s stock after selling 2,709 shares during the quarter. Means Investment CO. Inc.’s holdings in Bristol Myers Squibb were worth $1,046,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb during the first quarter worth about $31,000. Trifecta Capital Advisors LLC acquired a new position in Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb during the 1st quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David V. Elkins sold 56,000 shares of the business’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 completion of the transaction, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BMY. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Daiwa Capital Markets downgraded shares of 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. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Finally, Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $44.01 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm’s 50-day simple moving average is $46.26 and its 200 day simple moving average is $48.03. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The firm has a market capitalization of $89.57 billion, a PE ratio of 17.74, a P/E/G ratio of 2.25 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last announced 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. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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