Ransom Advisory Ltd Makes New $843,000 Investment in Bristol Myers Squibb Company $BMY

Key Points

• Ransom Advisory Ltd acquired 13,826 shares of Bristol Myers Squibb, valued at approximately $843,000, during the first quarter, highlighting increasing institutional interest in the company.
• Research analysts have recently adjusted their ratings for Bristol Myers Squibb, with Citigroup lowering its price target from $51.00 to $47.00, reflecting cautious sentiment towards the stock.
• The biopharmaceutical company's quarterly earnings surpassed expectations, reporting an EPS of $1.46 against a consensus estimate of $1.07, along with revenues of $12.27 billion, which is in line with market anticipations.

Ransom Advisory Ltd bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,826 shares of the biopharmaceutical company's stock, valued at approximately $843,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates raised its holdings in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb in the first quarter valued at $31,000. Finally, Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the first quarter valued at $33,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

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

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock traded down $1.32 during trading hours on Friday, hitting $46.22. 11,892,193 shares of the company traded hands, compared to its average volume of 9,078,454. The firm has a market cap of $94.08 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm's 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $50.18. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

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.