Flputnam Investment Management Co. Buys 76,321 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Flputnam Investment Management Co. increased its stake in Bristol Myers Squibb by 52.4% in Q1, acquiring 76,321 additional shares, bringing its total holdings to 222,079 shares valued at approximately $13.5 million.
• Bristol Myers Squibb reported earnings of $1.46 per share for the latest quarter, which surpassed analysts’ expectations of $1.07, alongside quarterly revenue of $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, which resulted in a 5.3% yield, reflecting a payout ratio of 100%.

Flputnam Investment Management Co. grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 52.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,079 shares of the biopharmaceutical company's stock after acquiring an additional 76,321 shares during the quarter. Flputnam Investment Management Co.'s holdings in Bristol Myers Squibb were worth $13,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beck Mack & Oliver LLC bought a new position in shares of Bristol Myers Squibb during the first quarter valued at $213,000. Graham Capital Management L.P. purchased a new stake in shares of Bristol Myers Squibb during the first quarter valued at $568,000. Saudi Central Bank purchased a new stake in shares of Bristol Myers Squibb during the first quarter valued at $49,000. Connecticut Wealth Management LLC boosted its position in shares of Bristol Myers Squibb by 11.9% during the first quarter. Connecticut Wealth Management LLC now owns 4,343 shares of the biopharmaceutical company's stock valued at $265,000 after buying an additional 461 shares during the last quarter. Finally, Mubadala Investment Co PJSC purchased a new stake in shares of Bristol Myers Squibb during the first quarter valued at $4,214,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 0.6%

BMY stock opened at $47.17 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. 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 stock has a market cap of $96.01 billion, a P/E ratio of 19.02, a PEG ratio of 2.41 and a beta of 0.36. The business's 50-day moving average price is $47.05 and its 200-day moving average price is $50.74.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the previous year, the firm earned $2.07 EPS. The business'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. On average, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on BMY shares. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets cut 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. Finally, Citigroup dropped their target price on 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 equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb 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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