Bayforest Capital Ltd Cuts Holdings in Bristol Myers Squibb Company $BMY

Bayforest Capital Ltd trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 44.3% during the second quarter, Holdings Channel reports. The institutional investor owned 9,279 shares of the biopharmaceutical company’s stock after selling 7,377 shares during the quarter. Bayforest Capital Ltd’s holdings in Bristol Myers Squibb were worth $430,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New England Asset Management Inc. increased its position in shares of 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 purchasing an additional 305 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Bristol Myers Squibb by 1.1% in the first 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 last quarter. Sage Capital Advisors llc increased its holdings in Bristol Myers Squibb by 60.7% in the second 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 last quarter. Ransom Advisory Ltd purchased a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $843,000. Finally, Castle Rock Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 36,576 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.14.

Bristol Myers Squibb Trading Down 0.4%

Shares of Bristol Myers Squibb stock opened at $43.63 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 debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market capitalization of $88.81 billion, a P/E ratio of 17.59, a PEG ratio of 2.26 and a beta of 0.33. The company’s fifty day moving average is $46.16 and its two-hundred day moving average is $47.79.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the company posted $2.07 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

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 paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

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.