Bluefin Capital Management LLC Makes New Investment in Bristol Myers Squibb Company $BMY

Key Points

• Bristol Myers Squibb Company ($BMY) saw a new investment from Bluefin Capital Management LLC, acquiring 21,700 shares valued at approximately $1.32 million, making it the firm's 19th largest holding.
• The company reported a quarterly EPS of $1.46, exceeding estimates of $1.07, and generated revenue of $12.27 billion for the quarter.
• Bristol Myers Squibb declared a quarterly dividend of $0.62, representing an annualized yield of 5.2%, with a dividend payout ratio of 100%.

Bluefin Capital Management LLC acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 21,700 shares of the biopharmaceutical company's stock, valued at approximately $1,323,000. Bristol Myers Squibb makes up approximately 1.0% of Bluefin Capital Management LLC's portfolio, making the stock its 19th largest holding.

Several other large investors also recently bought and sold shares of BMY. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $26,000. Global Wealth Strategies & Associates grew its stake in shares of 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 buying an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $31,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $47.25 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The stock has a market capitalization of $96.17 billion, a PE ratio of 19.05, a P/E/G ratio of 2.39 and a beta of 0.35. The firm has a 50 day moving average of $47.09 and a two-hundred day moving average of $50.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter last year, the company posted $2.07 EPS. The firm'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. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMY. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup decreased their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note 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.com, the company currently has a consensus rating of "Hold" and an average target price of $56.38.

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.

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