Kinsale Capital Group Inc. Buys 17,687 Shares of Bristol Myers Squibb Company $BMY

Kinsale Capital Group Inc. raised its position in Bristol Myers Squibb Company (NYSE:BMY) by 13.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 149,777 shares of the biopharmaceutical company’s stock after purchasing an additional 17,687 shares during the quarter. Kinsale Capital Group Inc.’s holdings in Bristol Myers Squibb were worth $6,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New England Asset Management Inc. lifted its stake in Bristol Myers Squibb by 0.8% in the first 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 lifted its stake 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 in the last quarter. Commonwealth Retirement Investments LLC boosted its stake in Bristol Myers Squibb by 24.6% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after purchasing an additional 11,690 shares during the period. Sage Capital Advisors llc grew its holdings in shares of Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after buying an additional 32,181 shares in the last quarter. Finally, Castle Rock Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 458.2% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock worth $2,088,000 after acquiring an additional 36,576 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Trading Up 0.2%

Shares of Bristol Myers Squibb stock opened at $46.74 on Friday. The firm’s 50 day moving average is $45.25 and its 200 day moving average is $46.72. The firm has a market capitalization of $95.14 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.52 by $0.11. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 83.78%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated 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 owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

About Bristol Myers Squibb

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.