National Bank of Canada FI Acquires 860,464 Shares of Bristol Myers Squibb Company $BMY

National Bank of Canada FI increased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 71.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,069,698 shares of the biopharmaceutical company’s stock after buying an additional 860,464 shares during the period. National Bank of Canada FI owned 0.10% of Bristol Myers Squibb worth $95,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BMY. Norges Bank acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at $1,554,154,000. Wellington Management Group LLP grew its holdings in shares of Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Bristol Myers Squibb by 16.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after purchasing an additional 10,195,775 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Bristol Myers Squibb by 428.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock valued at $523,599,000 after purchasing an additional 9,171,098 shares in the last quarter. Finally, Man Group plc lifted its position in Bristol Myers Squibb by 280.4% during the second quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after purchasing an additional 5,503,391 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BMY. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Finally, HSBC reiterated a “hold” rating and issued a $53.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.08.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $52.38 on Monday. The company’s 50 day moving average price is $46.80 and its two-hundred day moving average price is $46.93. The firm has a market capitalization of $106.63 billion, a P/E ratio of 17.69, a P/E/G ratio of 8.02 and a beta of 0.29. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The company 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 76.53% and a net margin of 12.57%.Bristol Myers Squibb’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.8%. Bristol Myers Squibb’s payout ratio is 83.78%.

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.