Bristol Myers Squibb Company $BMY Position Cut by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC reduced its stake in Bristol Myers Squibb by 67.4%, bringing its total shares to 15,633, worth approximately $953,000.
• Several institutional investors have increased their stakes, with Ameriprise Financial leading by raising their stake by 59.9% in the previous quarter.
• Bristol Myers Squibb's recent earnings report showed an EPS of $1.46, surpassing expectations significantly, alongside a revenue of $12.27 billion.

Freestone Capital Holdings LLC trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 67.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,633 shares of the biopharmaceutical company's stock after selling 32,331 shares during the quarter. Freestone Capital Holdings LLC's holdings in Bristol Myers Squibb were worth $953,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northwest & Ethical Investments L.P. increased its position in shares of Bristol Myers Squibb by 120.5% during the first quarter. Northwest & Ethical Investments L.P. now owns 162,087 shares of the biopharmaceutical company's stock worth $9,884,000 after acquiring an additional 88,588 shares during the last quarter. Round Hill Asset Management increased its holdings in Bristol Myers Squibb by 50.0% in the first quarter. Round Hill Asset Management now owns 15,701 shares of the biopharmaceutical company's stock valued at $958,000 after buying an additional 5,237 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Bristol Myers Squibb by 6.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 166,188 shares of the biopharmaceutical company's stock valued at $10,136,000 after buying an additional 9,437 shares during the last quarter. Knuff & Co LLC increased its holdings in Bristol Myers Squibb by 38.3% in the first quarter. Knuff & Co LLC now owns 15,538 shares of the biopharmaceutical company's stock valued at $948,000 after buying an additional 4,300 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Bristol Myers Squibb by 21.3% in the first quarter. Raymond James Financial Inc. now owns 5,527,119 shares of the biopharmaceutical company's stock valued at $337,099,000 after buying an additional 972,353 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BMY. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered 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 lowered their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.5880 during trading on Friday, hitting $47.8420. 11,602,099 shares of the company traded hands, compared to its average volume of 12,653,990. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.48 and a beta of 0.36. The business's fifty day moving average is $47.06 and its 200-day moving average is $51.12. Bristol Myers Squibb Company has a one year low of $42.96 and a one year 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.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate 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 company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The business's revenue 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. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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.