Kestra Advisory Services LLC Lowers Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Kestra Advisory Services LLC has reduced its holdings in Bristol Myers Squibb Company by 5.8%, owning 219,758 shares valued at approximately $13.40 million as of the last reporting period.
• Multiple institutional investors have adjusted their positions, with Commonwealth Equity Services LLC increasing its holdings by 1.1% and Avaii Wealth Management LLC boosting theirs by 590.9% during the same quarter.
• Bristol Myers Squibb reported strong quarterly earnings, posting $1.46 EPS which exceeded estimates, alongside a revenue of $12.27 billion for the quarter.

Kestra Advisory Services LLC trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,758 shares of the biopharmaceutical company's stock after selling 13,511 shares during the quarter. Kestra Advisory Services LLC's holdings in Bristol Myers Squibb were worth $13,403,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates increased its position in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb in the 1st quarter worth approximately $31,000. Finally, Accent Capital Management LLC bought a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

BMY traded down $0.75 during midday trading on Thursday, reaching $46.89. The company had a trading volume of 7,795,020 shares, compared to its average volume of 13,162,738. The business has a 50-day moving average of $47.04 and a two-hundred day moving average of $50.90. 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 1 year low of $42.96 and a 1 year high of $63.33. The company has a market cap of $95.43 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the firm posted $2.07 EPS. The firm'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, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup lowered their target price 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. 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. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb has an average rating of "Hold" and an average price target of $56.38.

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.