Inspire Trust Co. N.A. Raises Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Inspire Trust Co. N.A. increased its stake in Bristol Myers Squibb by 24.1% in Q1, owning 72,000 shares valued at approximately $4.39 million.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding estimates, and generated $12.27 billion in revenue.
• The company announced a quarterly dividend of $0.62, resulting in an annualized dividend yield of 5.2%.

Inspire Trust Co. N.A. raised its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 24.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,000 shares of the biopharmaceutical company's stock after buying an additional 14,000 shares during the quarter. Inspire Trust Co. N.A.'s holdings in Bristol Myers Squibb were worth $4,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BMY. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb during the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates lifted its position in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares in the last quarter. Transce3nd LLC purchased a new position in Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb during the first quarter worth approximately $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

Shares of BMY traded up $0.4050 on Tuesday, reaching $48.5950. The stock had a trading volume of 3,574,364 shares, compared to its average volume of 13,288,302. The firm has a market capitalization of $98.91 billion, a PE ratio of 19.60, a PEG ratio of 2.48 and a beta of 0.36. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The firm has a 50-day moving average of $47.21 and a 200 day moving average of $51.32. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly 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 analysts' expectations 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 revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.1%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. 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 research report on Friday, August 1st. Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. One investment 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.38.

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.