Bristol Myers Squibb (NYSE:BMY) EVP Sells $2,650,480.00 in Stock

Key Points

• David Elkins, EVP of Bristol Myers Squibb, sold 56,000 shares for approximately $2.65 million, resulting in a 25.07% decrease in his ownership.
• The company reported an EPS of $1.46 for the last quarter, exceeding estimates, along with a revenue of $12.27 billion.
• Bristol Myers Squibb's recent quarterly dividend was set at $0.62, giving an annualized yield of 5.2%, with a payout ratio of 100%.

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) EVP David Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade 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.

Bristol Myers Squibb Trading Up 0.1%

Bristol Myers Squibb stock traded up $0.07 during trading hours on Wednesday, reaching $47.48. The company had a trading volume of 8,379,840 shares, compared to its average volume of 9,605,242. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a 50-day moving average price of $47.08 and a 200 day moving average price of $50.61. The firm has a market cap of $96.64 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.41 and a beta of 0.35. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

Wall Street Analyst Weigh In

Several research firms have commented on BMY. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. 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, Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.38.

Institutional Trading of Bristol Myers Squibb

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in Bristol Myers Squibb by 1.1% during 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 acquiring an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after purchasing an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock valued at $3,967,000 after purchasing an additional 869 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after buying an additional 80,087 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

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.

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