Stance Capital LLC Acquires 39,165 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Stance Capital LLC dramatically increased its stake in Bristol Myers Squibb by 1,223.9%, owning 42,365 shares worth approximately $2.58 million, making it 27th in their portfolio.
• Several major investors have expanded their positions, with Vanguard Group growing its stake by 0.8% and owning over $11.67 billion in shares at the end of the most recent quarter.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations, and has set its FY 2025 guidance between $6.350 and $6.650 EPS.

Stance Capital LLC raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1,223.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,365 shares of the biopharmaceutical company's stock after purchasing an additional 39,165 shares during the period. Bristol Myers Squibb accounts for approximately 1.8% of Stance Capital LLC's holdings, making the stock its 27th biggest position. Stance Capital LLC's holdings in Bristol Myers Squibb were worth $2,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates lifted its holdings 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 acquiring an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 0.2%

Shares of NYSE:BMY traded down $0.08 during trading on Wednesday, reaching $47.15. 8,512,182 shares of the company were exchanged, compared to its average volume of 12,997,046. The firm has a market capitalization of $95.97 billion, a PE ratio of 19.01, a P/E/G ratio of 2.39 and a beta of 0.35. The business's fifty day simple moving average is $47.09 and its 200-day simple moving average is $50.36. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its 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 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Activity 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 transaction, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Citigroup lowered their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Daiwa America lowered shares of 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, Daiwa Capital Markets lowered 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 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.38.

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.