Sovereign Financial Group Inc. Reduces Position in Bristol Myers Squibb Company $BMY

Sovereign Financial Group Inc. cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.2% in the second quarter, Holdings Channel.com reports. The firm owned 13,070 shares of the biopharmaceutical company’s stock after selling 718 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Bristol Myers Squibb were worth $605,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. New England Asset Management Inc. boosted its position 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 valued at $2,408,000 after buying an additional 305 shares during the period. Commonwealth Equity Services LLC boosted its position 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 valued at $78,580,000 after buying an additional 13,959 shares during the period. Sage Capital Advisors llc boosted its position 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 valued at $3,946,000 after buying an additional 32,181 shares during the period. Ransom Advisory Ltd purchased a new stake in Bristol Myers Squibb in the 1st quarter valued at about $843,000. Finally, Castle Rock Wealth Management LLC boosted its position in Bristol Myers Squibb by 458.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock valued at $2,088,000 after buying an additional 36,576 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 1.5%

NYSE BMY 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 has a market cap of $89.57 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.33. The company has a 50 day moving average price of $46.26 and a 200 day moving average price of $48.03. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed 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. 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 payout ratio is 100.00%.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the business’s 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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. 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. Daiwa Capital Markets lowered 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. Citigroup reduced their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Finally, Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.14.

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.