Independent Franchise Partners LLP Grows Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Independent Franchise Partners LLP increased its holdings in Bristol Myers Squibb Company by 1.5% in the first quarter, now owning 17.39 million shares valued at over $1 billion, making it the firm's second largest holding.
• Bristol Myers Squibb's stock has experienced a decline of 1.2%, currently trading at approximately $47.84, with a year-high of $63.33 and a market capitalization of $97.38 billion.
• The biopharmaceutical company outperformed analysts' expectations by reporting $1.46 earnings per share for the last quarter, exceeding the consensus estimate of $1.07, while setting a FY 2025 guidance for EPS between 6.350-6.650.

Independent Franchise Partners LLP raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.5% 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 17,393,791 shares of the biopharmaceutical company's stock after acquiring an additional 264,562 shares during the quarter. Bristol Myers Squibb makes up approximately 7.6% of Independent Franchise Partners LLP's portfolio, making the stock its 2nd biggest position. Independent Franchise Partners LLP owned 0.85% of Bristol Myers Squibb worth $1,060,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marcum Wealth LLC lifted its position in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after buying an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC raised its stake in shares of Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after acquiring an additional 221 shares in the last quarter. Tompkins Financial Corp boosted its holdings in shares of Bristol Myers Squibb by 2.5% during the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock worth $558,000 after buying an additional 225 shares during the period. Finally, LS Investment Advisors LLC grew its stake in Bristol Myers Squibb by 1.3% in the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

NYSE BMY traded down $0.75 on Thursday, reaching $46.89. The company's stock had a trading volume of 7,869,919 shares, compared to its average volume of 13,180,743. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. 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 firm has a market cap of $95.43 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. The business has a 50-day moving average price of $47.04 and a 200 day moving average price of $50.90.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced 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 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. Bristol Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. 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. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Citigroup lowered 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 research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $56.38.

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.