Bristol Myers Squibb Company $BMY Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in Bristol Myers Squibb by 78.8% in the second quarter, holding 19,686 shares valued at approximately $911,000 after selling 73,134 shares.
• Company insider David V. Elkins sold 56,000 shares for around $2.65 million, resulting in a 25.07% decrease in his ownership of the company's stock.
• Bristol Myers Squibb's stock has a consensus rating of "Hold" with a target price of $56.38, while analysts have noted fluctuations in ratings from several research firms, including downgrades from Morgan Stanley and Daiwa Capital Markets.

Norden Group LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 78.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,686 shares of the biopharmaceutical company's stock after selling 73,134 shares during the quarter. Norden Group LLC's holdings in Bristol Myers Squibb were worth $911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New England Asset Management Inc. lifted its position in Bristol Myers Squibb by 0.8% in the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after purchasing an additional 305 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after buying an additional 13,959 shares during the period. Sage Capital Advisors llc boosted its stake in shares of Bristol Myers Squibb by 60.7% in the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock valued at $3,946,000 after buying an additional 32,181 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Bristol Myers Squibb during the first quarter worth $843,000. Finally, Avaii Wealth Management LLC raised its position in Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after acquiring an additional 67,221 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. This trade represents 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. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMY. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Citigroup dropped their price objective on 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. 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Trading Down 1.6%

Shares of BMY opened at $44.20 on Thursday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The stock has a market cap of $89.96 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35. The firm has a 50 day simple moving average of $46.79 and a 200-day simple moving average of $49.40.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.6%. Bristol Myers Squibb's payout ratio is presently 100.00%.

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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