Bristol Myers Squibb Company $BMY Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 28.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,770 shares of the biopharmaceutical company’s stock after selling 16,590 shares during the quarter. Praxis Investment Management Inc.’s holdings in Bristol Myers Squibb were worth $1,934,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthPlan Investment Management LLC raised its holdings in Bristol Myers Squibb by 61.0% during the second quarter. WealthPlan Investment Management LLC now owns 11,002 shares of the biopharmaceutical company’s stock worth $509,000 after purchasing an additional 4,167 shares during the last quarter. Callahan Advisors LLC increased its position in Bristol Myers Squibb by 36.9% during the second quarter. Callahan Advisors LLC now owns 11,491 shares of the biopharmaceutical company’s stock worth $532,000 after buying an additional 3,095 shares in the last quarter. New York State Teachers Retirement System increased its position in Bristol Myers Squibb by 3.4% during the second quarter. New York State Teachers Retirement System now owns 1,821,758 shares of the biopharmaceutical company’s stock worth $84,329,000 after buying an additional 59,294 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in Bristol Myers Squibb by 130.8% during the second quarter. Rosenberg Matthew Hamilton now owns 3,799 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 2,153 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in Bristol Myers Squibb by 29.2% during the second quarter. Mutual Advisors LLC now owns 88,992 shares of the biopharmaceutical company’s stock worth $4,310,000 after buying an additional 20,095 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of several recent research reports. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $43.37 on Friday. The business has a fifty day simple moving average of $46.12 and a 200-day simple moving average of $47.66. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. 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 company has a market cap of $88.28 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.26 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.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 earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current 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 issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Insiders Place Their Bets

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 transaction 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 approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.