Eaton Financial Holdings Company LLC Acquires New Position in Bristol Myers Squibb Company $BMY

Eaton Financial Holdings Company LLC bought a new position in Bristol Myers Squibb Company (NYSE:BMY) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,571 shares of the biopharmaceutical company’s stock, valued at approximately $304,000.

A number of other large investors have also made changes to their positions in the stock. RTD Financial Advisors Inc. increased its holdings in shares of Bristol Myers Squibb by 16.9% in the second quarter. RTD Financial Advisors Inc. now owns 24,848 shares of the biopharmaceutical company’s stock valued at $1,150,000 after purchasing an additional 3,590 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Bristol Myers Squibb by 3.3% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 19,165 shares of the biopharmaceutical company’s stock valued at $887,000 after buying an additional 618 shares in the last quarter. Cardinal Capital Management increased its stake in shares of Bristol Myers Squibb by 3.5% in the 2nd quarter. Cardinal Capital Management now owns 101,073 shares of the biopharmaceutical company’s stock worth $4,679,000 after acquiring an additional 3,414 shares during the last quarter. Gries Financial LLC raised its holdings in shares of Bristol Myers Squibb by 1.4% during the 2nd quarter. Gries Financial LLC now owns 49,656 shares of the biopharmaceutical company’s stock worth $2,299,000 after acquiring an additional 676 shares during the period. Finally, Lederer & Associates Investment Counsel CA boosted its position in shares of Bristol Myers Squibb by 2.2% during the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 21,597 shares of the biopharmaceutical company’s stock valued at $1,000,000 after acquiring an additional 475 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

Bristol Myers Squibb Trading Down 0.1%

NYSE:BMY opened at $44.98 on Tuesday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The stock has a market cap of $91.55 billion, a P/E ratio of 18.14, a P/E/G ratio of 2.30 and a beta of 0.35. 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 stock has a 50-day simple moving average of $46.88 and a 200-day simple moving average of $49.47.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Finally, Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.38.

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.