Capital Management Corp VA Sells 123,989 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Capital Management Corp VA has reduced its holdings in Bristol Myers Squibb by 54.9%, selling 123,989 shares and now owns 101,855 shares valued at approximately $4.71 million.
• Bristol Myers Squibb reported a quarterly EPS of $1.46, surpassing analyst expectations, along with a revenue of $12.27 billion for the quarter, which reflects a 0.6% increase year-over-year.
• The company's recent dividend announcement included a payment of $0.62 per share to be distributed on November 3rd, representing a yield of 5.7%.

Capital Management Corp VA lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 54.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,855 shares of the biopharmaceutical company's stock after selling 123,989 shares during the period. Capital Management Corp VA's holdings in Bristol Myers Squibb were worth $4,715,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BMY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the first quarter worth approximately $31,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb during the 1st quarter valued at $33,000. CBIZ Investment Advisory Services LLC boosted its stake in Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in Bristol Myers Squibb in the first quarter worth $36,000. Institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $57.14.

Bristol Myers Squibb Stock Up 0.6%

Shares of NYSE:BMY opened at $43.82 on Wednesday. The business's 50 day moving average is $46.18 and its 200 day moving average is $47.81. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market cap of $89.18 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.25 and a beta of 0.33. 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 released its quarterly 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 business had revenue of $12.27 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given 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%.

Insider Buying and Selling

In other news, EVP David V. Elkins sold 56,000 shares of the company'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 value of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company's stock.

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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