Lecap Asset Management Ltd. Invests $1.26 Million in Bristol Myers Squibb Company $BMY

Key Points

• Lecap Asset Management Ltd. invested $1.26 million in Bristol Myers Squibb Company (NYSE:BMY), purchasing 27,124 shares in the second quarter, as reported in a recent SEC filing.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, which will be paid to shareholders on November 3rd, reflecting an annualized yield of 5.2%.
• Despite strong quarterly earnings with an EPS of $1.46, various analysts have adjusted their ratings for BMY, with a consensus target price of $56.38.

Lecap Asset Management Ltd. purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,124 shares of the biopharmaceutical company's stock, valued at approximately $1,256,000.

Several other institutional investors have also modified their holdings of BMY. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. NBC Securities Inc. lifted its holdings in Bristol Myers Squibb by 102,110.0% in the first quarter. NBC Securities Inc. now owns 10,221 shares of the biopharmaceutical company's stock worth $623,000 after purchasing an additional 10,211 shares during the period. Merit Financial Group LLC lifted its holdings in Bristol Myers Squibb by 21.6% in the first quarter. Merit Financial Group LLC now owns 51,601 shares of the biopharmaceutical company's stock worth $3,147,000 after purchasing an additional 9,166 shares during the period. RFG Advisory LLC lifted its holdings in Bristol Myers Squibb by 67.1% in the first quarter. RFG Advisory LLC now owns 27,915 shares of the biopharmaceutical company's stock worth $1,703,000 after purchasing an additional 11,208 shares during the period. Finally, Bremer Bank National Association acquired a new stake in Bristol Myers Squibb in the first quarter worth about $200,000. Institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets lowered shares of 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 shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup reduced their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.38.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Bristol Myers Squibb Price Performance

BMY stock opened at $47.39 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The firm has a market capitalization of $96.47 billion, a PE ratio of 19.11, a P/E/G ratio of 2.31 and a beta of 0.33. The firm has a 50-day moving average of $46.49 and a two-hundred day moving average of $48.85.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 earned $2.07 earnings per share. The business's quarterly 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. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.2%. Bristol Myers Squibb's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.