Bristol Myers Squibb Company $BMY Stake Raised by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in Bristol Myers Squibb by 19.9%, owning 206,070 shares valued at approximately $12.57 million as of the latest SEC filing.
• Brokerages have recently adjusted their ratings on Bristol Myers Squibb, with Citigroup and Daiwa Capital Markets issuing downward revisions to their price targets and ratings.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.62, representing a yield of 5.3%.

Intech Investment Management LLC grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,070 shares of the biopharmaceutical company's stock after acquiring an additional 34,184 shares during the period. Intech Investment Management LLC's holdings in Bristol Myers Squibb were worth $12,568,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BMY. New England Asset Management Inc. lifted its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock worth $2,408,000 after buying an additional 305 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock worth $78,580,000 after purchasing an additional 13,959 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Bristol Myers Squibb during the fourth quarter valued at $16,651,000. Avaii Wealth Management LLC lifted its position in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after buying an additional 67,221 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BMY shares. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup dropped their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business's 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 of the company's stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

Bristol Myers Squibb Price Performance

BMY traded down $1.32 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 market capitalization of $94.08 billion, a P/E ratio of 18.64, a PEG ratio of 2.43 and a beta of 0.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The company has a fifty day moving average of $47.08 and a 200-day moving average of $50.18. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for 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%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research 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 was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

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.