Acadian Asset Management LLC Sells 45,553 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Acadian Asset Management LLC has reduced its holdings in Bristol Myers Squibb by 21.4%, now owning 167,694 shares valued at approximately $10.22 million.
• Other institutional investors, including Wellington Management and GQG Partners, significantly increased their stakes in Bristol Myers, with increases of 297.0% and 22,647.6%, respectively.
• Analysts have issued mixed ratings for Bristol Myers Squibb, with price targets ranging from $42.00 to $56.38, as the company reported better-than-expected earnings but faces changing market perceptions.

Acadian Asset Management LLC cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,694 shares of the biopharmaceutical company's stock after selling 45,553 shares during the quarter. Acadian Asset Management LLC's holdings in Bristol Myers Squibb were worth $10,224,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Bristol Myers Squibb by 297.0% in the first 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 in the last quarter. GQG Partners LLC lifted its position in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Bristol Myers Squibb in the first quarter worth approximately $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bristol Myers Squibb by 16.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after purchasing an additional 3,196,919 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Bristol Myers Squibb by 7,142.8% in the first quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock worth $147,619,000 after purchasing an additional 2,386,970 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bristol Myers Squibb Stock Performance

BMY stock traded down $0.21 during midday trading on Wednesday, hitting $46.13. 14,303,552 shares of the company traded hands, compared to its average volume of 12,939,438. The business has a 50 day simple moving average of $47.06 and a 200-day simple moving average of $49.95. The stock has a market capitalization of $93.89 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.37 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. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) 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 the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's payout ratio is 100.00%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the firm'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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb 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.