Bristol Myers Squibb Company $BMY Shares Acquired by Concord Asset Management LLC VA

Key Points

• Concord Asset Management LLC increased its stake in Bristol Myers Squibb by 48.4% in Q2, owning 23,091 shares valued at approximately $1,069,000.
• Recent insider trading saw EVP David V. Elkins sell 56,000 shares at an average price of $47.33, reducing his ownership by 25.07%.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding estimates, with an annual dividend yield of 5.6% announced for shareholders on November 3rd.

Concord Asset Management LLC VA lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 48.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,091 shares of the biopharmaceutical company's stock after purchasing an additional 7,532 shares during the quarter. Concord Asset Management LLC VA's holdings in Bristol Myers Squibb were worth $1,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth about $25,000. REAP Financial Group LLC boosted its position in shares of Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $31,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 231 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bristol Myers Squibb

In other 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 transaction of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One 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's stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average target price of $57.14.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $44.01 on Monday. The firm has a market cap of $89.57 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month 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 company's 50-day moving average is $46.26 and its two-hundred day moving average is $47.96.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.6%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Bristol Myers Squibb Company 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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