Ieq Capital LLC Boosts Stake in Bristol Myers Squibb Company $BMY

Key Points

• Ieq Capital LLC increased its stake in Bristol Myers Squibb Company by 27.6% in Q1, now owning 172,523 shares valued at approximately $10.5 million.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, surpassing estimates and achieving revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, with a dividend yield of 5.2% and a 100% dividend payout ratio.

Ieq Capital LLC grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,523 shares of the biopharmaceutical company's stock after acquiring an additional 37,362 shares during the quarter. Ieq Capital LLC's holdings in Bristol Myers Squibb were worth $10,522,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the 4th quarter worth $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates increased its holdings in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the first quarter worth approximately $31,000. Finally, Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup decreased 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. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, August 5th. Finally, Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.04 during midday trading on Tuesday, reaching $47.14. 4,061,455 shares of the company traded hands, compared to its average volume of 13,107,098. 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 12 month low of $42.96 and a 12 month high of $63.33. The firm has a market capitalization of $95.95 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. The firm's fifty day moving average price is $47.05 and its two-hundred day moving average price is $50.66.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

About Bristol Myers Squibb

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.