AG2R LA Mondiale Gestion D Actifs Acquires New Stake in Bristol Myers Squibb Company $BMY

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new stake in Bristol Myers Squibb, purchasing 75,610 shares valued at approximately $4.6 million.
• Analyst ratings for Bristol Myers Squibb have been mixed, with recent changes including a cut from "strong-buy" to "buy" by Wall Street Zen and a target price reduction from Citigroup from $51 to $47.
• Bristol Myers Squibb reported a quarterly EPS of $1.46, significantly beating the consensus estimate of $1.07, and announced a quarterly dividend of $0.62 per share with a yield of 5.2%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,610 shares of the biopharmaceutical company's stock, valued at approximately $4,611,000.

Other large investors have also recently made changes to their positions in the company. New England Asset Management Inc. increased its position in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after buying an additional 305 shares in the last quarter. Commonwealth Equity Services LLC boosted 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 worth $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC lifted its position in Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after buying an additional 67,221 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Bristol Myers Squibb Stock Up 0.8%

Bristol Myers Squibb stock opened at $47.52 on Friday. The company has a market capitalization of $96.72 billion, a P/E ratio of 19.16, a PEG ratio of 2.41 and a beta of 0.35. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a 50-day simple moving average of $47.09 and a 200-day simple moving average of $50.26. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly 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. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts expect 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 was paid on Friday, August 1st. Shareholders 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 yield of 5.2%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business's 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 transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% 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.

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