Fourpath Capital Management LLC Trims Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Fourpath Capital Management LLC significantly reduced its stake in Bristol Myers Squibb by 73.3%, now holding 5,958 shares valued at $276,000 as per their recent SEC disclosure.
• Bristol Myers Squibb has faced recent negative adjustments in analyst ratings, with Citigroup and Daiwa Capital Markets lowering their target prices to $47.00 and $42.00, respectively.
• The company is set to pay a quarterly dividend of $0.62 per share on November 3rd, representing an annualized yield of 5.6%.

Fourpath Capital Management LLC cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 73.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,958 shares of the biopharmaceutical company's stock after selling 16,373 shares during the period. Fourpath Capital Management LLC's holdings in Bristol Myers Squibb were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at about $25,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $33,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 231 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $36,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the subject of a number of research reports. Citigroup reduced their target price 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. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $57.14.

Insiders Place Their Bets

In other 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 value of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Trading Down 1.5%

Shares of BMY opened at $44.01 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm's 50-day moving average is $46.26 and its two-hundred day moving average is $48.11. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The firm has a market capitalization of $89.57 billion, a P/E ratio of 17.74, a PEG ratio of 2.29 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the business posted $2.07 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.6%. 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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