Bristol Myers Squibb Company $BMY Stock Holdings Reduced by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its holdings in Bristol Myers Squibb by 5.0%, selling 5,260 shares and bringing its total to 99,323 shares valued at $6,058,000.
• Analysts have lowered their price targets for Bristol Myers Squibb, with Citigroup reducing its target from $51.00 to $47.00 and maintaining a "neutral" rating.
• Bristol Myers Squibb beat analysts’ expectations with earnings of $1.46 EPS for the last quarter, significantly surpassing the consensus estimate of $1.07.

Gamco Investors INC. ET AL reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,323 shares of the biopharmaceutical company's stock after selling 5,260 shares during the period. Gamco Investors INC. ET AL's holdings in Bristol Myers Squibb were worth $6,058,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after acquiring an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $16,651,000. Avaii Wealth Management LLC lifted its position in shares of 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 buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after purchasing an additional 869 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Bristol Myers Squibb by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after buying an additional 80,087 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMY. Citigroup lowered their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Finally, Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Up 0.8%

BMY opened at $47.60 on Thursday. The company has a market capitalization of $96.88 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.41 and a beta of 0.36. 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 firm's fifty day moving average price is $47.04 and its two-hundred day moving average price is $50.90. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $11.32 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The business'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. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.2%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Bristol Myers Squibb 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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