Geneos Wealth Management Inc. Has $5.05 Million Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Geneos Wealth Management Inc. reduced its stake in Bristol Myers Squibb by 13.8%, selling 13,201 shares, leaving them with 82,754 shares valued at approximately $5.05 million.
• Bristol Myers Squibb reported $1.46 earnings per share (EPS) for the last quarter, exceeding estimates of $1.07, with a revenue of $12.27 billion surpassing expectations of $11.32 billion.
• The company announced a quarterly dividend of $0.62, yielding 5.3%, while also revealing a 100% dividend payout ratio.

Geneos Wealth Management Inc. cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,754 shares of the biopharmaceutical company's stock after selling 13,201 shares during the period. Geneos Wealth Management Inc.'s holdings in Bristol Myers Squibb were worth $5,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BMY. Brighton Jones LLC boosted its holdings in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth approximately $13,094,000. Nuveen Asset Management LLC lifted its holdings in shares of Bristol Myers Squibb by 16.1% during the 4th quarter. Nuveen Asset Management LLC now owns 10,420,945 shares of the biopharmaceutical company's stock worth $589,409,000 after acquiring an additional 1,444,822 shares during the period. NorthRock Partners LLC lifted its holdings in shares of Bristol Myers Squibb by 192.8% during the 4th quarter. NorthRock Partners LLC now owns 26,839 shares of the biopharmaceutical company's stock worth $1,518,000 after acquiring an additional 17,672 shares during the period. Finally, Nearwater Capital Markets Ltd bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth approximately $15,837,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 2.8%

Shares of BMY traded down $1.32 during trading hours on Friday, hitting $46.22. 11,892,193 shares of the stock were exchanged, compared to its average volume of 9,078,454. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week 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. The business has a 50-day moving average of $47.08 and a 200-day moving average of $50.13. The firm has a market capitalization of $94.08 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.35.

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 for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior 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 expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $0.62 dividend. 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 dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Daiwa Capital Markets downgraded 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 note on Tuesday, August 5th. Citigroup dropped their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm'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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

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.