Kingstone Capital Partners Texas LLC Buys Shares of 2,136,479 Bristol Myers Squibb Company $BMY

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $98.9 million in Bristol Myers Squibb by acquiring over 2.1 million shares, which constitutes about 0.10% of the company.
• Bristol Myers Squibb has a current consensus rating of "Hold" from analysts, with multiple firms adjusting their target prices, the highest being $56.38.
• In addition to its strong quarterly earnings report, Bristol Myers Squibb will pay a quarterly dividend of $0.62 on November 3rd, representing an annualized yield of 5.5%.

Kingstone Capital Partners Texas LLC bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,136,479 shares of the biopharmaceutical company's stock, valued at approximately $98,898,000. Kingstone Capital Partners Texas LLC owned approximately 0.10% of Bristol Myers Squibb at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Marcum Wealth LLC increased its stake in shares of Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after acquiring an additional 193 shares during the period. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the period. 1858 Wealth Management LLC raised its position in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after acquiring an additional 221 shares in the last quarter. Tompkins Financial Corp grew its stake in shares of Bristol Myers Squibb by 2.5% during the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock worth $558,000 after purchasing an additional 225 shares during the period. Finally, LS Investment Advisors LLC grew its stake in shares of Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock worth $1,038,000 after purchasing an additional 225 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were 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 owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

Bristol Myers Squibb Stock Performance

BMY traded up $0.35 on Tuesday, reaching $45.33. The company had a trading volume of 2,703,639 shares, compared to its average volume of 12,991,697. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The stock has a market capitalization of $92.26 billion, a PE ratio of 18.31, a P/E/G ratio of 2.30 and a beta of 0.35. 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 stock has a 50-day moving average price of $46.88 and a 200-day moving average price of $49.47.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS 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 business's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Citigroup decreased their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Daiwa Capital Markets lowered 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, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb 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.