Graham Capital Management L.P. Takes Position in Bristol Myers Squibb Company $BMY

Key Points

• Graham Capital Management L.P. has acquired a new position in Bristol Myers Squibb Co., purchasing 9,314 shares valued at approximately $568,000.
• Other institutional investors have also increased their stakes in Bristol Myers Squibb, with hedge funds owning 76.41% of the company's stock.
• Recent analyst ratings for Bristol Myers Squibb show a consensus rating of "Hold" with an average price target of $56.38.

Graham Capital Management L.P. purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,314 shares of the biopharmaceutical company's stock, valued at approximately $568,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. Wellington Management Group LLP raised its holdings in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after buying an additional 17,750,938 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after buying an additional 11,970,598 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $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% in the fourth 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 valued at $1,259,690,000 after buying an additional 3,196,919 shares during the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $180,313,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BMY shares. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. 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. Citigroup dropped their price target 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. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. One 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.38.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents 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 this link. Insiders own 0.07% of the company's stock.

Bristol Myers Squibb Price Performance

BMY traded down $0.46 on Monday, hitting $46.68. 9,995,942 shares of the company were exchanged, compared to its average volume of 9,188,246. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business's fifty day moving average is $47.10 and its 200 day moving average is $50.38. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $95.02 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35.

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. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date was Thursday, July 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.