Bristol Myers Squibb Company $BMY Stock Position Lowered by Busey Bank

Key Points

• Busey Bank sold 168,126 shares of Bristol Myers Squibb, reducing its stake by 78.5%, and its remaining holdings are valued at $2.13 million.
• Despite the sell-off, several large investors like Vanguard Group and Wellington Management increased their investments in Bristol Myers Squibb during Q1.
• Bristol Myers Squibb recently reported a Q2 EPS of $1.46, significantly beating estimates, while also announcing a quarterly dividend of $0.62 per share.

Busey Bank lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 78.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,006 shares of the biopharmaceutical company's stock after selling 168,126 shares during the period. Busey Bank's holdings in Bristol Myers Squibb were worth $2,130,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BMY. Brighton Jones LLC lifted its position in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after buying an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in Bristol Myers Squibb during the fourth quarter worth about $13,094,000. Waverly Advisors LLC lifted its position in Bristol Myers Squibb by 140.0% during the fourth quarter. Waverly Advisors LLC now owns 32,099 shares of the biopharmaceutical company's stock worth $1,816,000 after buying an additional 18,722 shares during the period. Continuum Advisory LLC lifted its position in Bristol Myers Squibb by 15.1% during the fourth quarter. Continuum Advisory LLC now owns 1,733 shares of the biopharmaceutical company's stock worth $98,000 after buying an additional 227 shares during the period. Finally, Novem Group purchased a new position in Bristol Myers Squibb during the fourth quarter worth about $205,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Bristol Myers Squibb Stock Performance

Shares of BMY traded down $0.12 during mid-day trading on Tuesday, hitting $44.87. The stock had a trading volume of 6,759,020 shares, compared to its average volume of 13,014,886. The company has a market cap of $91.32 billion, a PE ratio of 18.13, a PEG ratio of 2.30 and a beta of 0.35. The company's fifty day simple moving average is $46.88 and its two-hundred day simple moving average is $49.47. 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 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 results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business's revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. 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 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup dropped their price target 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. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus 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.