Bayforest Capital Ltd Acquires 9,275 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Bayforest Capital Ltd increased its stake in Bristol Myers Squibb by 125.7% during the 1st quarter, acquiring an additional 9,275 shares and bringing its total holdings to 16,656 shares valued at approximately $1,016,000.
• Bristol Myers Squibb reported quarterly earnings of $1.46 per share, exceeding analysts' expectations of $1.07, with revenue of $12.27 billion compared to estimates of $11.32 billion.
• The company announced a quarterly dividend of $0.62 per share, yielding 5.3%, and highlighted a current dividend payout ratio of 100%.

Bayforest Capital Ltd raised its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 125.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,656 shares of the biopharmaceutical company's stock after buying an additional 9,275 shares during the period. Bayforest Capital Ltd's holdings in Bristol Myers Squibb were worth $1,016,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $26,000. Global Wealth Strategies & Associates raised its stake in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the first quarter valued at $31,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb during the first quarter valued at $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

BMY traded down $1.32 during midday trading on Friday, reaching $46.22. The company had a trading volume of 11,892,193 shares, compared to its average volume of 9,078,454. 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 stock has a market cap of $94.08 billion, a PE ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The business has a 50-day moving average price of $47.08 and a two-hundred day moving average price of $50.18.

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 firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BMY shares. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Finally, Citigroup decreased their price target on shares of 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 investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average 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 business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Company 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.