L2 Asset Management LLC Takes Position in Bristol Myers Squibb Company $BMY

Key Points

• L2 Asset Management acquired 45,073 Bristol Myers Squibb shares worth approximately $2.6 million during the second quarter. Institutional investors collectively own 76.41% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $66.06, although Jefferies downgraded the stock to “Hold.”
• Bristol Myers Squibb exceeded quarterly earnings and revenue expectations, reporting $2.04 in EPS and $12.97 billion in revenue. The company also pays a quarterly dividend of $0.63, equivalent to a 3.7% annualized yield.

L2 Asset Management LLC acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 45,073 shares of the biopharmaceutical company's stock, valued at approximately $2,597,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss RE Ltd. bought a new position in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Darwin Wealth Management LLC bought a new stake in Bristol Myers Squibb in the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its position in Bristol Myers Squibb by 73.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Davis Asset Management L.P. purchased a new stake in shares of Bristol Myers Squibb during the second quarter valued at approximately $27,000. Finally, Bayban bought a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $31,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. Jefferies Financial Group downgraded shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Bank of America dropped their price target on shares of Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Guggenheim reissued a "buy" rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Citigroup reiterated a "neutral" rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.06.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $67.30 on Tuesday. The firm has a market capitalization of $137.47 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.17 and a beta of 0.22. The stock has a fifty day moving average of $60.77 and a 200 day moving average of $59.47. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.64. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.44. The business had revenue of $12.97 billion for the quarter, compared to analysts' expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.7%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.51%.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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