105,903 Shares in Bristol Myers Squibb Company $BMY Purchased by TrueMark Investments LLC

Key Points

• TrueMark Investments LLC has acquired a new position in Bristol Myers Squibb Company, purchasing 105,903 shares valued at approximately $4.9 million.
• Bristol Myers Squibb reported a Q2 earnings per share of $1.46, exceeding the consensus estimate by $0.39, with a revenue of $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, representing an annualized yield of 5.7% and a current payout ratio of 100%.

TrueMark Investments LLC acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 105,903 shares of the biopharmaceutical company's stock, valued at approximately $4,902,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after purchasing an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp increased its position in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares during the last quarter. Northern Trust Corp increased its position in Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in 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 worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $43.63 on Friday. The business has a 50 day moving average price of $46.07 and a 200 day moving average price of $47.47. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a market cap of $88.80 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.26 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the company earned $2.07 EPS. The firm's revenue for the quarter 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. Research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.7%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on BMY shares. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.23.

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.

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