Chiron Capital Management LLC Sells 109,920 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Chiron Capital Management LLC has reduced its holdings in Bristol Myers Squibb by 26.8%, now owning 299,608 shares valued at approximately $18.27 million.
• Bristol Myers Squibb reported $1.46 earnings per share in its latest quarterly results, exceeding estimates, with revenue reaching $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 5.3%.

Chiron Capital Management LLC lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,608 shares of the biopharmaceutical company's stock after selling 109,920 shares during the quarter. Bristol Myers Squibb accounts for approximately 16.6% of Chiron Capital Management LLC's holdings, making the stock its biggest holding. Chiron Capital Management LLC's holdings in Bristol Myers Squibb were worth $18,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb in the 4th quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $26,000. Global Wealth Strategies & Associates grew its holdings in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $31,000. Finally, Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $33,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, 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 report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Trading Up 0.8%

Bristol Myers Squibb stock traded up $0.39 during trading hours on Friday, reaching $47.08. 8,227,003 shares of the company's stock traded hands, compared to its average volume of 9,276,282. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $95.84 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.39 and a beta of 0.35. The firm's 50 day moving average is $47.09 and its 200-day moving average is $50.51.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the company posted $2.07 EPS. The company's revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given 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 5.3%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Insider Transactions at Bristol Myers Squibb

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 transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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.