Envestnet Portfolio Solutions Inc. Decreases Stake in Bristol Myers Squibb Company $BMY

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in Bristol Myers Squibb by 37.2%, now holding 110,108 shares worth approximately $5.1 million.
• Insider transactions revealed that EVP David V. Elkins sold 56,000 shares at an average price of $47.33, decreasing his holdings by 25.07%.
• Analysts have mixed ratings on Bristol Myers Squibb, with an average rating of "Hold" and a consensus target price of $57.14.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 37.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,108 shares of the biopharmaceutical company's stock after selling 65,123 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Bristol Myers Squibb were worth $5,097,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Beacon Investment Advisory Services Inc. boosted its position in shares of Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after buying an additional 212 shares in the last quarter. Exchange Capital Management Inc. boosted its position in shares of Bristol Myers Squibb by 0.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company's stock worth $2,541,000 after buying an additional 220 shares in the last quarter. 1858 Wealth Management LLC boosted its position in shares of Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock worth $392,000 after buying an additional 221 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Bristol Myers Squibb by 0.3% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company's stock worth $3,615,000 after buying an additional 224 shares in the last quarter. Finally, Richwood Investment Advisors LLC boosted its position in shares of Bristol Myers Squibb by 1.7% in the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company's stock worth $616,000 after buying an additional 225 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a research note on Monday. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.14.

Insider Transactions at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed 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 Trading Up 0.6%

Shares of BMY stock opened at $43.82 on Wednesday. The firm has a market cap of $89.18 billion, a P/E ratio of 17.67, a PEG ratio of 2.25 and a beta of 0.33. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm's 50-day simple moving average is $46.18 and its 200-day simple moving average is $47.81.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data 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. 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 was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued 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 is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is presently 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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