Thoroughbred Financial Services LLC Cuts Stock Holdings in Bristol Myers Squibb Company $BMY

Thoroughbred Financial Services LLC lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 33.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,807 shares of the biopharmaceutical company’s stock after selling 6,507 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Bristol Myers Squibb were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at approximately $25,000. Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the first quarter valued at $33,000. CBIZ Investment Advisory Services LLC boosted its position 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 purchasing an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb during the 1st quarter worth $36,000. Finally, REAP Financial Group LLC increased its holdings in shares of Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 0.7%

Shares of BMY opened at $46.97 on Monday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The stock has a market cap of $95.61 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The firm has a 50 day simple moving average of $45.34 and a 200-day simple moving average of $46.65.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 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 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 83.78%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 sale, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on BMY. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.58.

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.