Bristol Myers Squibb Company $BMY Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. reduced its stake in Bristol Myers Squibb by 2.4%, holding 345,102 shares valued at approximately $15.98 million after selling 8,440 shares during the second quarter.
• Bristol Myers Squibb reported $1.46 earnings per share, significantly surpassing analysts' estimates of $1.07, with a quarterly revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, representing a 5.5% dividend yield with a payout ratio currently at 100%.

QRG Capital Management Inc. decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,102 shares of the biopharmaceutical company's stock after selling 8,440 shares during the period. QRG Capital Management Inc.'s holdings in Bristol Myers Squibb were worth $15,975,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $31,000. Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb in the first quarter worth $33,000. CBIZ Investment Advisory Services LLC raised its holdings in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Bristol Myers Squibb during the 1st quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in Bristol Myers Squibb by 51.9% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 267 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $45.39 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month 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 stock has a fifty day moving average price of $46.36 and a 200 day moving average price of $48.58. The company has a market cap of $92.38 billion, a P/E ratio of 18.30, a PEG ratio of 2.32 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results 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. The company 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%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business 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 forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

BMY has been the topic of several research analyst reports. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Saturday, September 27th. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus price target of $56.38.

Insider Buying and Selling at Bristol Myers Squibb

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. Company 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.

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