Bristol Myers Squibb Company $BMY Shares Purchased by TruWealth Advisors LLC

Key Points

• TruWealth Advisors LLC raised its holdings in Bristol Myers Squibb by 23.3%, acquiring an additional 47,163 shares during the second quarter, bringing its total to 249,589 shares valued at $11,553,000.
• Bristol Myers Squibb reported $1.46 earnings per share for the recent quarter, surpassing analysts' expectations of $1.07, with revenue reaching $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, reflecting a 5.4% yield, although the payout ratio was noted to be 100%.

TruWealth Advisors LLC raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 23.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,589 shares of the biopharmaceutical company's stock after purchasing an additional 47,163 shares during the quarter. TruWealth Advisors LLC's holdings in Bristol Myers Squibb were worth $11,553,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Sage Capital Advisors llc grew its stake in Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock valued at $3,946,000 after purchasing an additional 32,181 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in Bristol Myers Squibb by 59.7% during the 2nd quarter. Fiduciary Financial Group LLC now owns 7,191 shares of the biopharmaceutical company's stock valued at $342,000 after purchasing an additional 2,688 shares in the last quarter. HBW Advisory Services LLC grew its stake in Bristol Myers Squibb by 9.4% during the 2nd quarter. HBW Advisory Services LLC now owns 4,715 shares of the biopharmaceutical company's stock valued at $218,000 after purchasing an additional 407 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Bristol Myers Squibb during the 1st quarter valued at approximately $4,611,000. Finally, Voya Investment Management LLC grew its stake in Bristol Myers Squibb by 12.8% during the 1st quarter. Voya Investment Management LLC now owns 2,172,440 shares of the biopharmaceutical company's stock valued at $132,497,000 after purchasing an additional 246,763 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 2.8%

NYSE:BMY opened at $46.22 on Friday. 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 capitalization of $94.08 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The business has a 50 day simple moving average of $47.08 and a 200 day simple moving average of $50.13.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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 return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The business's revenue for the quarter 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 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BMY. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup decreased their target price on 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. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.

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