KLP Kapitalforvaltning AS Has $66.34 Million Position in Bristol Myers Squibb Company $BMY

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Bristol Myers Squibb Company by 6.5%, now holding 1,433,058 shares valued at approximately $66.34 million.
• Shares of Bristol Myers Squibb opened at $45.16 with a 12-month range between $42.96 and $63.33, and the company reported $12.27 billion in revenue for the last quarter.
• The company also announced a quarterly dividend of $0.62 per share, which represents a 5.5% yield, with an ex-dividend date set for October 3rd.

KLP Kapitalforvaltning AS grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,433,058 shares of the biopharmaceutical company's stock after acquiring an additional 87,600 shares during the quarter. KLP Kapitalforvaltning AS owned 0.07% of Bristol Myers Squibb worth $66,336,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BMY. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after acquiring an additional 4,935 shares in the last quarter. Vest Financial LLC raised its position in shares of Bristol Myers Squibb by 73.5% during the first quarter. Vest Financial LLC now owns 16,912 shares of the biopharmaceutical company's stock worth $1,031,000 after purchasing an additional 7,166 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Bristol Myers Squibb by 9.3% during the 1st quarter. Sivia Capital Partners LLC now owns 4,691 shares of the biopharmaceutical company's stock valued at $286,000 after purchasing an additional 399 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Bristol Myers Squibb by 8.3% during the 1st quarter. Wedmont Private Capital now owns 11,362 shares of the biopharmaceutical company's stock valued at $693,000 after purchasing an additional 875 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in shares of Bristol Myers Squibb by 6.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 5,303 shares of the biopharmaceutical company's stock valued at $323,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Ratings Changes

BMY has been the topic of several research analyst reports. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered 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 report on Tuesday, August 5th. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday, October 2nd. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Citigroup lowered their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $57.14.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm'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 transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $45.16 on Tuesday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company's fifty day simple moving average is $46.31 and its 200-day simple moving average is $48.38. The firm has a market cap of $91.92 billion, a PE ratio of 18.21, a P/E/G ratio of 2.32 and a beta of 0.33. 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 (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the business earned $2.07 EPS. The company's 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. Equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

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.

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