CX Institutional Purchases 24,938 Shares of Bristol Myers Squibb Company $BMY

Key Points

• CX Institutional increased its stake in Bristol Myers Squibb by 19.7% in the second quarter, acquiring an additional 24,938 shares, bringing its total holdings to 151,783 shares valued at approximately $7 million.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations of $1.07, with revenues reaching $12.27 billion, surpassing predictions of $11.32 billion.
• The company announced a quarterly dividend of $0.62 per share, with an annualized yield of 5.5%, and has set its FY 2025 earnings guidance at between 6.350-6.650 EPS.

CX Institutional raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 19.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,783 shares of the biopharmaceutical company's stock after purchasing an additional 24,938 shares during the period. CX Institutional's holdings in Bristol Myers Squibb were worth $7,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wright Investors Service Inc. grew its position in Bristol Myers Squibb by 0.5% in the 2nd quarter. Wright Investors Service Inc. now owns 89,819 shares of the biopharmaceutical company's stock worth $4,158,000 after purchasing an additional 407 shares during the period. Diversified Trust Co boosted its stake in shares of Bristol Myers Squibb by 16.4% during the 2nd quarter. Diversified Trust Co now owns 64,763 shares of the biopharmaceutical company's stock worth $2,998,000 after acquiring an additional 9,105 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter worth $98,898,000. IFM Investors Pty Ltd lifted its stake in shares of Bristol Myers Squibb by 3.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 413,438 shares of the biopharmaceutical company's stock valued at $19,138,000 after buying an additional 14,918 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Bristol Myers Squibb by 3.3% in the 2nd quarter. Grove Bank & Trust now owns 19,529 shares of the biopharmaceutical company's stock worth $904,000 after purchasing an additional 619 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 1.2%

Shares of Bristol Myers Squibb stock opened at $45.05 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market capitalization of $91.70 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.33 and a beta of 0.35. The firm's 50 day simple moving average is $46.93 and its two-hundred day simple moving average is $49.73.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data 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 firm 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 business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. Daiwa Capital Markets downgraded 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. 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. Citigroup lowered 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 report on Friday, August 1st. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, 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. One investment 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.38.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

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