Ashton Thomas Securities LLC Buys Shares of 7,001 Bristol Myers Squibb Company $BMY

Key Points

• Ashton Thomas Securities LLC has made a new investment of $427,000 in Bristol Myers Squibb, acquiring 7,001 shares of the company during the first quarter.
• Despite the investment, multiple analysts have downgraded Bristol Myers Squibb's stock ratings recently, with a consensus rating of "Hold" and an average price target of $56.38.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding expectations, with a quarterly revenue of $12.27 billion, showing a slight year-over-year increase.

Ashton Thomas Securities LLC acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,001 shares of the biopharmaceutical company's stock, valued at approximately $427,000.

Several other hedge funds have also recently bought and sold shares of BMY. Wellington Management Group LLP lifted its stake in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. GQG Partners LLC lifted its stake in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Nuveen LLC purchased a new stake in Bristol Myers Squibb in the 1st quarter worth about $624,369,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bristol Myers Squibb by 16.8% in the 4th 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 acquiring an additional 3,196,919 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BMY shares. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets downgraded 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. Finally, Citigroup cut their price target 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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Performance

Shares of BMY stock traded up $0.39 during trading on Friday, reaching $47.08. The company had a trading volume of 8,227,003 shares, compared to its average volume of 9,188,246. The firm's 50 day simple moving average is $47.09 and its two-hundred day simple moving average is $50.44. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a market capitalization of $95.84 billion, a PE ratio of 18.99, a PEG ratio of 2.41 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $11.32 billion. During the same period last year, the business earned $2.07 EPS. The firm'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. Sell-side analysts forecast 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 issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.3%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm'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 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. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.07% of the stock is owned by company insiders.

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.