3Chopt Investment Partners LLC Boosts Holdings in Bristol Myers Squibb Company $BMY

Key Points

• 3Chopt Investment Partners LLC increased its holdings in Bristol Myers Squibb by 10.1%, owning 62,786 shares worth approximately $2.9 million after acquiring 5,760 additional shares during the second quarter.
• Analysts have recently adjusted their ratings and price targets for Bristol Myers Squibb, with Daiwa Capital Markets lowering its rating from "outperform" to "neutral" and setting a price target of $42.00.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, reflecting an annualized yield of 5.6%, with a total dividend payout ratio of 100%.

3Chopt Investment Partners LLC grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,786 shares of the biopharmaceutical company's stock after buying an additional 5,760 shares during the period. 3Chopt Investment Partners LLC's holdings in Bristol Myers Squibb were worth $2,906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI increased its stake in Bristol Myers Squibb by 100.2% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 27,077 shares of the biopharmaceutical company's stock worth $1,254,000 after acquiring an additional 13,551 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Bristol Myers Squibb by 18.5% in the 2nd quarter. IFP Advisors Inc now owns 31,394 shares of the biopharmaceutical company's stock valued at $1,453,000 after purchasing an additional 4,894 shares in the last quarter. Financial Security Advisor Inc. grew its stake in shares of Bristol Myers Squibb by 7.6% during the second quarter. Financial Security Advisor Inc. now owns 4,741 shares of the biopharmaceutical company's stock valued at $219,000 after buying an additional 335 shares during the last quarter. Callan Family Office LLC increased its stake in Bristol Myers Squibb by 236.1% in the 2nd quarter. Callan Family Office LLC now owns 27,337 shares of the biopharmaceutical company's stock worth $1,265,000 after purchasing an additional 19,203 shares during the period. Finally, TFR Capital LLC. purchased a new position in shares of Bristol Myers Squibb in the second quarter worth $207,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BMY shares. Daiwa Capital Markets lowered 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. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup cut their target price 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus price target of $57.14.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $44.65 on Friday. The stock has a 50-day moving average price of $46.27 and a 200 day moving average price of $48.22. The stock has a market capitalization of $90.88 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.28 and a beta of 0.33. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the company posted $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. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared 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 of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

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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