Coho Partners Ltd. Has $4.01 Million Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Coho Partners Ltd. increased its holdings in Bristol Myers Squibb by 22.3% during Q2, now owning 86,588 shares worth approximately $4.01 million.
• Institutional investors and hedge funds own 76.41% of the company's stock, with significant increases in holdings by Wellington Management and GQG Partners.
• Bristol Myers Squibb is set to pay a quarterly dividend of $0.62 per share on November 3rd, yielding 5.7% annually.

Coho Partners Ltd. grew its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,588 shares of the biopharmaceutical company's stock after purchasing an additional 15,785 shares during the period. Coho Partners Ltd.'s holdings in Bristol Myers Squibb were worth $4,008,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the period. GQG Partners LLC raised its stake in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the period. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at about $624,369,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at about $98,898,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the business'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 transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BMY. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday. Dbs Bank upgraded shares of Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a report on Tuesday. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $57.23.

Bristol Myers Squibb Stock Down 0.6%

NYSE:BMY opened at $43.37 on Friday. The firm has a market capitalization of $88.28 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The stock's 50 day moving average price is $46.12 and its two-hundred day moving average price is $47.66. 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 issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 10.58% and a return on equity of 80.04%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts expect 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. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. Bristol Myers Squibb's payout ratio is currently 100.00%.

Bristol Myers Squibb Company 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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