Bristol Myers Squibb Company $BMY Shares Sold by InvesTrust

Key Points

• InvesTrust reduced its holdings in Bristol Myers Squibb by 64.4% in the second quarter, selling 74,178 shares and bringing its total ownership to 40,984 shares, valued at approximately $1.9 million.
• Several institutional investors made significant adjustments to their stakes in Bristol Myers Squibb, with notable increases including Wellington Management boosting its holdings by 297.0% and GQG Partners increasing its stake by 22,647.6%.
• Bristol Myers Squibb reported earnings per share of $1.46 for the last quarter, exceeding analysts' expectations, and generated revenues of $12.27 billion, surpassing estimates of $11.32 billion.

InvesTrust decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 64.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,984 shares of the biopharmaceutical company's stock after selling 74,178 shares during the quarter. InvesTrust's holdings in Bristol Myers Squibb were worth $1,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Wellington Management Group LLP boosted 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 worth $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. GQG Partners LLC boosted its stake in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the period. Nuveen LLC acquired a new position in Bristol Myers Squibb in the 1st quarter worth approximately $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bristol Myers Squibb by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after purchasing an additional 3,196,919 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Bristol Myers Squibb by 7,142.8% in the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock worth $147,619,000 after purchasing an additional 2,386,970 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 2.8%

Shares of NYSE:BMY opened at $46.22 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a fifty day moving average of $47.08 and a two-hundred day moving average of $50.18. 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 released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 business earned $2.07 EPS. Bristol Myers Squibb's quarterly 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. On average, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMY. Wall Street Zen lowered 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. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup decreased 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 note on Friday, August 1st. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $56.38.

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.

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