Inceptionr LLC Makes New $1.57 Million Investment in Bristol Myers Squibb Company $BMY

Inceptionr LLC acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 33,801 shares of the biopharmaceutical company’s stock, valued at approximately $1,565,000.

Several other large investors also recently added to or reduced their stakes in BMY. Wellington Management Group LLP lifted its stake in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. GQG Partners LLC raised its holdings in Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after buying an additional 11,970,598 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb in the first quarter worth about $624,369,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Bristol Myers Squibb by 142.8% during the 2nd quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock valued at $390,541,000 after acquiring an additional 4,961,869 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents 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 accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Scotiabank assumed coverage on shares of Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus price target of $54.42.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $49.05 on Wednesday. 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 50-day moving average of $45.37 and a 200-day moving average of $46.58. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The company has a market capitalization of $99.84 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.23 and a beta of 0.33.

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

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

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.