Altrinsic Global Advisors LLC Lowers Position in Bristol Myers Squibb Company $BMY

Key Points

• Altrinsic Global Advisors LLC reduced its stake in Bristol Myers Squibb by 6.3%, selling 13,186 shares, leaving it with 195,923 shares worth approximately $11.95 million.
• Several hedge funds are adjusting their positions, with notable increases from Commonwealth Equity Services LLC and Avaii Wealth Management LLC, indicating significant institutional interest in the company.
• Analysts have lowered their price targets for Bristol Myers Squibb, with Citigroup reducing its target from $51.00 to $47.00, reflecting a more cautious outlook on the stock.

Altrinsic Global Advisors LLC lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,923 shares of the biopharmaceutical company's stock after selling 13,186 shares during the period. Bristol Myers Squibb accounts for 0.6% of Altrinsic Global Advisors LLC's holdings, making the stock its 26th biggest holding. Altrinsic Global Advisors LLC's holdings in Bristol Myers Squibb were worth $11,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $13,094,000. Nebula Research & Development LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $709,000. Coldstream Capital Management Inc. increased its stake in Bristol Myers Squibb by 24.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 36,287 shares of the biopharmaceutical company's stock valued at $2,052,000 after purchasing an additional 7,154 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $1,495,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BMY shares. 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. 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. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.29 during trading on Friday, reaching $47.17. The company had a trading volume of 10,685,502 shares, compared to its average volume of 10,735,505. The company has a fifty day moving average of $47.05 and a two-hundred day moving average of $50.74. The stock has a market capitalization of $96.01 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. 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 issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $11.32 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The business'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 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared 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 of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

About Bristol Myers Squibb

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.