Bristol Myers Squibb Company $BMY Shares Acquired by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its stake in Bristol Myers Squibb by 3.4%, now owning 1,821,758 shares valued at approximately $84 million.
• Bristol Myers Squibb recently reported a $1.46 EPS for Q2, exceeding estimates and showing a year-over-year revenue increase of 0.6% to $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, reflecting a dividend yield of 5.7% amid a total dividend payout ratio of 100%.

New York State Teachers Retirement System boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,821,758 shares of the biopharmaceutical company's stock after purchasing an additional 59,294 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Bristol Myers Squibb worth $84,329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton lifted its position in shares of Bristol Myers Squibb by 130.8% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 3,799 shares of the biopharmaceutical company's stock valued at $176,000 after acquiring an additional 2,153 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Bristol Myers Squibb by 29.2% in the 2nd quarter. Mutual Advisors LLC now owns 88,992 shares of the biopharmaceutical company's stock valued at $4,310,000 after acquiring an additional 20,095 shares in the last quarter. Generali Asset Management SPA SGR lifted its position in shares of Bristol Myers Squibb by 18.2% in the 2nd quarter. Generali Asset Management SPA SGR now owns 290,157 shares of the biopharmaceutical company's stock valued at $13,431,000 after acquiring an additional 44,727 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Bristol Myers Squibb by 4.3% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 15,014 shares of the biopharmaceutical company's stock valued at $695,000 after acquiring an additional 613 shares in the last quarter. Finally, Innova Wealth Partners purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $222,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $43.63 on Thursday. The company's fifty day moving average is $46.16 and its 200-day moving average is $47.79. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The firm has a market cap of $88.81 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

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, topping 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 for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the business posted $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. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research note on Tuesday. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $57.14.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction 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 directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

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.

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