Bristol Myers Squibb Company $BMY Shares Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. has increased its ownership in Bristol Myers Squibb by 5.2%, owning 532,879 shares worth $32.5 million as of the latest SEC filing.
• Bristol Myers Squibb’s stock has been positively performing, with a 0.6% increase in share price, and the company reported earnings that exceeded analyst expectations.
• The company has announced a quarterly dividend of $0.62 per share, reflecting an annualized dividend of $2.48, indicating a strong dividend yield of 5.3%.

Baird Financial Group Inc. boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 532,879 shares of the biopharmaceutical company's stock after acquiring an additional 26,478 shares during the quarter. Baird Financial Group Inc.'s holdings in Bristol Myers Squibb were worth $32,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Bristol Myers Squibb by 18.9% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,368 shares of the biopharmaceutical company's stock valued at $327,000 after buying an additional 854 shares during the period. Panagora Asset Management Inc. lifted its stake in Bristol Myers Squibb by 21.5% during the first quarter. Panagora Asset Management Inc. now owns 2,777,790 shares of the biopharmaceutical company's stock worth $169,417,000 after purchasing an additional 490,898 shares during the last quarter. Palogic Value Management L.P. lifted its stake in Bristol Myers Squibb by 4.7% during the first quarter. Palogic Value Management L.P. now owns 33,290 shares of the biopharmaceutical company's stock worth $2,030,000 after purchasing an additional 1,508 shares during the last quarter. Vident Advisory LLC lifted its stake in Bristol Myers Squibb by 97.5% during the first quarter. Vident Advisory LLC now owns 147,192 shares of the biopharmaceutical company's stock worth $8,977,000 after purchasing an additional 72,679 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in Bristol Myers Squibb during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research analyst reports. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction 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 directly owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock traded up $0.39 during trading hours on Friday, hitting $47.08. The stock had a trading volume of 8,227,003 shares, compared to its average volume of 9,276,282. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market capitalization of $95.84 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.39 and a beta of 0.35. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The stock's fifty day moving average is $47.09 and its two-hundred day moving average is $50.51.

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 (EPS) for the quarter, beating 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 business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the business earned $2.07 earnings per share. The business's revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

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.