Demars Financial Group LLC Cuts Stake in Bristol Myers Squibb Company $BMY

Key Points

• Demars Financial Group LLC has drastically reduced its stake in Bristol Myers Squibb Company by 98.1%, now holding only 17,988 shares, worth $833,000.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, surpassing estimates by $0.39 and showing a revenue increase of 0.6% year-over-year.
• The company announced a quarterly dividend of $0.62 per share, translating to a 5.7% dividend yield and a payout ratio of 100%.

Demars Financial Group LLC decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 98.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,988 shares of the biopharmaceutical company's stock after selling 948,199 shares during the quarter. Demars Financial Group LLC's holdings in Bristol Myers Squibb were worth $833,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Trifecta Capital Advisors LLC acquired a new stake in Bristol Myers Squibb during the second quarter valued at $25,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth about $33,000. CBIZ Investment Advisory Services LLC grew its position in shares of Bristol Myers Squibb by 66.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 231 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in Bristol Myers Squibb in the 1st quarter worth about $36,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $43.63 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm has a market cap of $88.80 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.27 and a beta of 0.33. The business's 50-day moving average price is $46.07 and its 200 day moving average price is $47.40. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week 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 analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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 paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

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 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating on shares of Bristol Myers Squibb in a research note on Monday, October 13th. Morgan Stanley reissued 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, October 14th. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.23.

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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