Bayforest Capital Ltd Lowers Stake in Bristol Myers Squibb Company $BMY

Key Points

• Bayforest Capital Ltd has reduced its stake in Bristol Myers Squibb by 44.3%, selling 7,377 shares and holding 9,279 shares worth $430,000 at the end of the last quarter.
• Other institutional investors have shown increased interest, with Wellington Management Group lifting its stake by 297% and GQG Partners by 22,647.6% during the same quarter.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, resulting in an annualized dividend of $2.48 and reflecting a payout ratio of 100%.

Bayforest Capital Ltd lowered its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 44.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,279 shares of the biopharmaceutical company's stock after selling 7,377 shares during the quarter. Bayforest Capital Ltd's holdings in Bristol Myers Squibb were worth $430,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. GQG Partners LLC lifted its holdings in Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC purchased a new position in Bristol Myers Squibb during the first quarter valued at $624,369,000. Kingstone Capital Partners Texas LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter valued at about $98,898,000. Finally, Bank of New York Mellon Corp lifted its stake in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 0.4%

NYSE BMY opened at $43.63 on Thursday. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The business's fifty day simple moving average is $46.16 and its 200-day simple moving average is $47.79. The firm has a market cap of $88.81 billion, a PE ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 analyst estimates of $11.32 billion. During the same quarter in the previous year, the firm earned $2.07 EPS. The company's quarterly 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. As a group, equities analysts anticipate 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 will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating on shares of Bristol Myers Squibb in a research note on Monday. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. 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. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $57.14.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company's stock.

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.

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