Gilman Hill Asset Management LLC Purchases 10,454 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Gilman Hill Asset Management LLC increased its stake in Bristol Myers Squibb by 4.7%, acquiring an additional 10,454 shares, bringing its total holdings to 231,765 shares valued at approximately $10.73 million.
• A recent analysis reveals that Bristol Myers Squibb received multiple downgrades from analysts, with Daiwa America lowering its rating from "strong-buy" to "hold" alongside a reduced target price of $42.00.
• Bristol Myers Squibb reported earnings of $1.46 per share for the latest quarter, exceeding estimates by $0.39, with quarterly revenue increasing to $12.27 billion, surpassing expectations as well.

Gilman Hill Asset Management LLC raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,765 shares of the biopharmaceutical company's stock after buying an additional 10,454 shares during the period. Bristol Myers Squibb comprises 1.8% of Gilman Hill Asset Management LLC's portfolio, making the stock its 8th largest holding. Gilman Hill Asset Management LLC's holdings in Bristol Myers Squibb were worth $10,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Brighton Jones LLC increased its stake in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter worth $13,094,000. State of Wyoming increased its stake in shares of Bristol Myers Squibb by 317.5% in the fourth quarter. State of Wyoming now owns 7,987 shares of the biopharmaceutical company's stock worth $452,000 after purchasing an additional 6,074 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Bristol Myers Squibb by 397.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 25,191 shares of the biopharmaceutical company's stock worth $1,425,000 after purchasing an additional 20,124 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI increased its stake in shares of Bristol Myers Squibb by 707.0% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 482,604 shares of the biopharmaceutical company's stock worth $27,296,000 after purchasing an additional 422,804 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BMY shares. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Citigroup lowered 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 research report on Friday, August 1st. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Down 1.2%

NYSE BMY traded down $0.55 during trading on Friday, reaching $45.05. 28,352,566 shares of the company's stock traded hands, compared to its average volume of 13,059,522. The company's 50 day simple moving average is $46.97 and its two-hundred day simple moving average is $49.83. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market cap of $91.70 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the firm earned $2.07 EPS. The company's quarterly 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, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Buying and Selling

In other Bristol Myers Squibb 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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

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.