Kendall Capital Management Purchases 8,210 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Kendall Capital Management increased its stake in Bristol Myers Squibb by 17.3%, acquiring an additional 8,210 shares and bringing its total holdings to 55,752 shares worth approximately $2.58 million.
• Several hedge funds, including Wellington Management and GQG Partners, have significantly increased their positions in Bristol Myers Squibb, contributing to 76.41% of the stock being owned by institutional investors.
• Analysts have issued mixed ratings for Bristol Myers Squibb, with a consensus target price of $56.38 and current ratings including one Strong Buy, four Buy, fifteen Hold, and one Sell.

Kendall Capital Management raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 55,752 shares of the biopharmaceutical company's stock after acquiring an additional 8,210 shares during the period. Kendall Capital Management's holdings in Bristol Myers Squibb were worth $2,581,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after buying an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its stake in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC bought a new stake in Bristol Myers Squibb during the first quarter worth $624,369,000. GAMMA Investing LLC lifted its stake in Bristol Myers Squibb by 7,142.8% in the first quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock valued at $147,619,000 after acquiring an additional 2,386,970 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at about $98,898,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Bristol Myers Squibb Stock Performance

BMY opened at $44.12 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $89.80 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.35. The business has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $49.15. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted 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. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the firm earned $2.07 earnings per share. The company's revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.6%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

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.

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