Clark Capital Management Group Inc. Acquires 8,085 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Clark Capital Management Group Inc. increased its stake in Bristol Myers Squibb by 0.9%, now holding 951,143 shares valued at approximately $58 million.
• Several large investors have significantly boosted their positions in Bristol Myers Squibb, with Wellington Management increasing its stake by 297% and GQG Partners growing its stake by an impressive 22,647.6% in the first quarter.
• Wall Street analysts have downgraded Bristol Myers Squibb, with the consensus rating now at "Hold" and target price set at $56.38, following revisions from various firms including Daiwa Capital Markets and Morgan Stanley.

Clark Capital Management Group Inc. increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 951,143 shares of the biopharmaceutical company's stock after acquiring an additional 8,085 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Bristol Myers Squibb were worth $58,010,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock valued at $11,673,669,000 after buying an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after buying an additional 306,430 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the period. Northern Trust Corp boosted its holdings in shares of Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after buying an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb 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 value of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. 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. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Finally, Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Down 1.0%

Shares of NYSE BMY traded down $0.46 during midday trading on Monday, reaching $46.68. The company's stock had a trading volume of 9,996,945 shares, compared to its average volume of 13,052,689. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market capitalization of $95.02 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.41 and a beta of 0.35. The stock has a 50 day simple moving average of $47.09 and a 200-day simple moving average of $50.44.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $11.32 billion. During the same period last year, the company earned $2.07 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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