Bristol Myers Squibb Company $BMY Stake Lessened by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC reduced its stake in Bristol Myers Squibb by 66.9%, selling 12,107 shares to end with 6,000 shares valued at approximately $278,000.
• Bristol Myers Squibb reported Q2 earnings of $1.46 per share, significantly beating the analysts' expectations of $1.07, with revenue of $12.27 billion.
• The company recently declared a quarterly dividend of $0.62 per share, yielding 5.7%, and has a dividend payout ratio of 100.00%.

Sanders Morris Harris LLC lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 66.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the biopharmaceutical company's stock after selling 12,107 shares during the quarter. Sanders Morris Harris LLC's holdings in Bristol Myers Squibb were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Trifecta Capital Advisors LLC acquired a new position in Bristol Myers Squibb in the second quarter worth $25,000. REAP Financial Group LLC boosted its holdings in Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 428 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the first quarter worth $31,000. Accent Capital Management LLC acquired a new position in Bristol Myers Squibb in the first quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC boosted 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 worth $35,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

BMY stock opened at $43.61 on Tuesday. The company has a market capitalization of $88.76 billion, a P/E ratio of 17.58, a PEG ratio of 2.27 and a beta of 0.33. The company has a 50-day simple moving average of $46.03 and a 200 day simple moving average of $47.32. 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 quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BMY shares. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $57.23.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.

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