Cliftonlarsonallen Wealth Advisors LLC Buys New Stake in Bristol Myers Squibb Company $BMY

Key Points

• Cliftonlarsonallen Wealth Advisors LLC has purchased a new stake in Bristol Myers Squibb Company worth approximately $568,000 by acquiring 12,274 shares in the 2nd quarter.
• In a significant insider transaction, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock, reducing his ownership by 25.07% and totaling over $2.65 million.
• Bristol Myers Squibb reported a quarterly earnings of $1.46 per share, exceeding estimates and reflecting a slight year-over-year revenue growth of 0.6%, with projected FY 2025 guidance set between 6.350-6.650 EPS.

Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,274 shares of the biopharmaceutical company's stock, valued at approximately $568,000.

A number of other large investors have also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Bristol Myers Squibb by 66.0% in the 1st 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. GKV Capital Management Co. Inc. bought a new position in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $36,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Bristol Myers Squibb during the 1st quarter valued at $37,000. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company's stock.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $45.75 on Friday. 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 stock has a market cap of $93.12 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.33. The firm has a 50-day moving average of $46.42 and a two-hundred day moving average of $48.76. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. The company'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, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analyst Ratings Changes

Several research analysts have commented on BMY shares. Citigroup dropped their price objective on shares of 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. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Daiwa America cut 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, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and an average price target of $56.38.

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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