Balefire LLC Has $902,000 Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Balefire LLC reduced its stock position in Bristol Myers Squibb by 26.8%, selling 7,121 shares and now holding 19,483 shares valued at $902,000.
• Institutional investors, including Vanguard Group and Bank of New York Mellon Corp, made significant adjustments to their holdings, with Vanguard increasing its stake by 0.8%.
• Analysts have downgraded Bristol Myers Squibb's stock ratings, with Wall Street Zen changing it to "buy" from "strong-buy" and Citigroup lowering its target price from $51.00 to $47.00.

Balefire LLC trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,483 shares of the biopharmaceutical company's stock after selling 7,121 shares during the quarter. Balefire LLC's holdings in Bristol Myers Squibb were worth $902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb in the 4th quarter worth about $26,000. Global Wealth Strategies & Associates boosted its holdings in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb during the 1st quarter worth approximately $31,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb during the first quarter worth approximately $33,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Down 1.2%

Shares of Bristol Myers Squibb stock traded down $0.55 on Friday, hitting $45.05. The stock had a trading volume of 28,352,566 shares, compared to its average volume of 13,059,522. The stock has a 50 day moving average of $46.97 and a 200 day moving average of $49.83. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market capitalization of $91.70 billion, a P/E ratio of 18.17, a PEG ratio of 2.36 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results 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. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BMY shares. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research 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 objective for the company. in a research report on Tuesday, August 5th. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report 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 assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.38.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company's stock.

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.