Biondo Investment Advisors LLC Increases Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Biondo Investment Advisors LLC increased its stake in Bristol Myers Squibb by 4.7% in the first quarter, holding 148,893 shares valued at approximately $9.08 million.
• Several institutional investors are reshaping their positions in Bristol Myers Squibb, with 76.41% of the company's stock now owned by hedge funds and other institutions.
• Despite a recent quarterly earnings report that beat expectations, analysts have issued mixed ratings on Bristol Myers Squibb, with an average rating of "Hold" and a target price of $56.38.

Biondo Investment Advisors LLC boosted its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,893 shares of the biopharmaceutical company's stock after purchasing an additional 6,693 shares during the quarter. Biondo Investment Advisors LLC's holdings in Bristol Myers Squibb were worth $9,081,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on BMY. Daiwa Capital Markets downgraded 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. Citigroup reduced their price target 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. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Trading Up 0.8%

BMY traded up $0.39 during trading on Wednesday, hitting $47.60. The company's stock had a trading volume of 8,560,928 shares, compared to its average volume of 13,201,684. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month 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 stock's fifty day moving average price is $47.03 and its 200-day moving average price is $50.92. The firm has a market capitalization of $96.88 billion, a P/E ratio of 19.19, a PEG ratio of 2.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The company'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. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 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.