Bristol Myers Squibb Company $BMY Shares Sold by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board reduced its stake in Bristol Myers Squibb by 37.8%, now holding approximately 2.55 million shares worth $155.5 million.
• Analysts downgraded Bristol Myers Squibb's stock ratings, with Citigroup lowering its price target from $51 to $47 and several others adjusting their ratings to "hold."
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, surpassing expectations, with $12.27 billion in revenue compared to the forecast of $11.32 billion.

Canada Pension Plan Investment Board reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 37.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,549,783 shares of the biopharmaceutical company's stock after selling 1,552,813 shares during the period. Canada Pension Plan Investment Board owned about 0.13% of Bristol Myers Squibb worth $155,511,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BMY. Wellington Management Group LLP increased its stake 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 in the last quarter. Ameriprise Financial Inc. grew its holdings in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. GQG Partners LLC grew its holdings in Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after buying an additional 11,970,598 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Bristol Myers Squibb during the 1st quarter valued at $624,369,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 1.0%

Shares of NYSE BMY traded down $0.47 during midday trading on Thursday, reaching $47.03. 1,817,450 shares of the company's stock were exchanged, compared to its average volume of 13,046,713. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The stock has a market capitalization of $95.72 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business's fifty day moving average price is $47.08 and its two-hundred day moving average price is $50.61.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The company'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. Analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed 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 was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BMY shares. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Citigroup decreased their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred 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 directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company's stock.

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.