Davidson Investment Advisors Sells 9,505 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Davidson Investment Advisors reduced its holdings in Bristol Myers Squibb by 3.2%, selling 9,505 shares, leaving them with 290,861 shares valued at $13,464,000.
• Bristol Myers Squibb reported earnings of $1.46 per share, significantly exceeding analysts' expectations of $1.07, alongside a revenue of $12.27 billion which also surpassed forecasts.
• The company announced a quarterly dividend of $0.62 per share, resulting in an annual yield of 5.7%, although its payout ratio stands at 100%.

Davidson Investment Advisors decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,861 shares of the biopharmaceutical company's stock after selling 9,505 shares during the period. Davidson Investment Advisors' holdings in Bristol Myers Squibb were worth $13,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its stake in Bristol Myers Squibb by 130.8% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 3,799 shares of the biopharmaceutical company's stock worth $176,000 after acquiring an additional 2,153 shares during the period. Mutual Advisors LLC raised its stake in Bristol Myers Squibb by 29.2% during the 2nd quarter. Mutual Advisors LLC now owns 88,992 shares of the biopharmaceutical company's stock worth $4,310,000 after acquiring an additional 20,095 shares during the period. Generali Asset Management SPA SGR raised its stake in Bristol Myers Squibb by 18.2% during the 2nd quarter. Generali Asset Management SPA SGR now owns 290,157 shares of the biopharmaceutical company's stock worth $13,431,000 after acquiring an additional 44,727 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Bristol Myers Squibb by 4.3% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 15,014 shares of the biopharmaceutical company's stock valued at $695,000 after buying an additional 613 shares during the last quarter. Finally, Innova Wealth Partners bought a new stake in shares of Bristol Myers Squibb during the second quarter valued at approximately $222,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 0.4%

Shares of BMY opened at $43.63 on Thursday. The company's fifty day moving average is $46.16 and its 200 day moving average is $47.79. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market capitalization of $88.81 billion, a PE ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33. 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 (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping 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 company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. Bristol Myers Squibb's quarterly 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. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday. Daiwa Capital Markets cut 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday. 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 analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $57.14.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction on 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 transaction, the executive vice president directly owned 167,379 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

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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