Allspring Global Investments Holdings LLC Raises Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Allspring Global Investments Holdings LLC significantly increased its position in Bristol Myers Squibb by 193.6% during the second quarter, owning 535,902 shares valued at approximately $25.46 million.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, exceeding the consensus estimate by 39 cents, with a revenue of $12.27 billion for the quarter, up by 0.6% compared to the previous year.
• The company announced a quarterly dividend of $0.62 per share, setting a yield of 5.7%, with an ex-dividend date of October 3rd.

Allspring Global Investments Holdings LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 193.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535,902 shares of the biopharmaceutical company's stock after acquiring an additional 353,392 shares during the period. Allspring Global Investments Holdings LLC's holdings in Bristol Myers Squibb were worth $25,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New England Asset Management Inc. raised its stake in Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock worth $2,408,000 after acquiring an additional 305 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Bristol Myers Squibb by 1.1% during the 1st 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 during the period. Sage Capital Advisors llc grew its position in Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock worth $3,946,000 after purchasing an additional 32,181 shares during the period. Ransom Advisory Ltd acquired a new stake in Bristol Myers Squibb during the 1st quarter worth about $843,000. Finally, Castle Rock Wealth Management LLC grew its position in Bristol Myers Squibb by 458.2% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company's stock worth $2,088,000 after purchasing an additional 36,576 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $43.37 on Friday. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $88.28 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. The stock's 50-day moving average price is $46.12 and its 200-day moving average price is $47.66.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the previous year, the firm posted $2.07 EPS. Bristol Myers Squibb's revenue 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. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 directly 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.23.

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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