Fulton Bank N.A. Reduces Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Fulton Bank N.A. has reduced its stake in Bristol Myers Squibb by 73.5%, selling 40,783 shares, which leaves them with 14,719 shares valued at approximately $681,000.
• Several hedge funds have recently either increased or decreased their investments in Bristol Myers Squibb, with 76.41% of the stock now owned by institutional investors.
• Analysts have issued mixed ratings on Bristol Myers Squibb, with price targets ranging from $42.00 to $56.38, reflecting a consensus rating of "Hold" for the stock.

Fulton Bank N.A. reduced its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 73.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,719 shares of the biopharmaceutical company's stock after selling 40,783 shares during the quarter. Fulton Bank N.A.'s holdings in Bristol Myers Squibb were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. purchased a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates lifted its stake in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $31,000. Finally, Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $33,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMY. Citigroup reduced their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Wall Street Zen downgraded 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 lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley reissued 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, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.38.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on 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 sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Trading Down 1.2%

Shares of BMY stock opened at $45.05 on Friday. The stock has a market cap of $91.70 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.33 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. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm's 50 day moving average price is $46.93 and its two-hundred day moving average price is $49.73.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results 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. The firm 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%. 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 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's 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.

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