CTC Alternative Strategies Ltd. Buys New Stake in Bristol Myers Squibb Company $BMY

Key Points

• CTC Alternative Strategies Ltd. acquired a new stake in Bristol Myers Squibb Company, purchasing 10,200 shares worth approximately $622,000 in the first quarter.
• Insider selling was noted as EVP David V. Elkins sold 56,000 shares at an average price of $47.33, resulting in a significant 25.07% decrease in his ownership.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, representing a 5.3% dividend yield and a payout ratio of 100.00%.

CTC Alternative Strategies Ltd. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 10,200 shares of the biopharmaceutical company's stock, valued at approximately $622,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $26,000. Global Wealth Strategies & Associates grew its holdings in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $47.08 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market cap of $95.84 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. The company's 50 day simple moving average is $47.09 and its 200-day simple moving average is $50.44. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) 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 analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

A number of research firms have commented on BMY. Daiwa Capital Markets cut 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 research report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Citigroup reduced their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.38.

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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