Fort Washington Investment Advisors Inc. OH Acquires 7,095 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Fort Washington Investment Advisors Inc. OH has increased its position in Bristol Myers Squibb (BMY) by 0.3% during the 2nd quarter, acquiring an additional 7,095 shares to hold a total of 2,599,492 shares valued at approximately $120 million.
• Several brokerages have recently downgraded Bristol Myers Squibb's rating, with Wall Street Zen changing from a "strong-buy" to a "buy" rating, while Daiwa Capital Markets set a new price target of $42.00.
• Bristol Myers Squibb reported earnings of $1.46 EPS, exceeding estimates, while the company has declared a quarterly dividend of $0.62 per share, equating to an annual yield of 5.6%, but with a payout ratio of 100%.

Fort Washington Investment Advisors Inc. OH raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,599,492 shares of the biopharmaceutical company's stock after buying an additional 7,095 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.13% of Bristol Myers Squibb worth $120,330,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the 1st quarter valued at about $31,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC increased its stake 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 worth $35,000 after purchasing an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth approximately $36,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMY. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets downgraded 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. Citigroup cut 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 report on Friday, August 1st. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $44.12 on Friday. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market capitalization of $89.80 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.26 and a beta of 0.35. The company has a fifty day moving average of $46.63 and a 200-day moving average of $49.07.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. Bristol Myers Squibb's payout ratio is currently 100.00%.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business'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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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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