Fortis Capital Advisors LLC Invests $1.21 Million in Bristol Myers Squibb Company $BMY

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Bristol Myers Squibb, purchasing 19,901 shares valued at approximately $1.2 million during the first quarter.
• Multiple institutional investors, including Vanguard Group and Bank of New York Mellon Corp, increased their holdings in Bristol Myers Squibb, demonstrating growing institutional interest in the company.
• Analysts have recently downgraded the stock rating for Bristol Myers Squibb, with price targets set between $42.00 and $47.00, indicating cautious sentiment affecting the stock's outlook.

Fortis Capital Advisors LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,901 shares of the biopharmaceutical company's stock, valued at approximately $1,214,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the period. Nuveen LLC purchased a new position in shares of Bristol Myers Squibb during the 1st quarter worth $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Bristol Myers Squibb by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after acquiring an additional 3,196,919 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Bristol Myers Squibb by 7,142.8% during the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock worth $147,619,000 after acquiring an additional 2,386,970 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was 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 approximately $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 SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup reduced their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One 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 given a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Trading Down 2.8%

NYSE BMY traded down $1.32 during trading on Friday, hitting $46.22. The stock had a trading volume of 11,892,193 shares, compared to its average volume of 9,078,454. The company has a market capitalization of $94.08 billion, a PE ratio of 18.64, a PEG ratio of 2.43 and a beta of 0.35. 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 50 day moving average price of $47.08 and a 200 day moving average price of $50.13. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during 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%.Bristol Myers Squibb's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

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.