MADDEN SECURITIES Corp Boosts Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• MADDEN SECURITIES Corp increased its holdings in Bristol Myers Squibb by 397.4%, owning 48,150 shares worth approximately $2.23 million at the end of the second quarter.
• In its latest earnings report, Bristol Myers Squibb surpassed estimates with $1.46 EPS and reported $12.27 billion in revenue for the quarter, up 0.6% year-over-year.
• The company announced a quarterly dividend of $0.62 per share, representing a 5.5% yield, with a payout ratio of 100%.

MADDEN SECURITIES Corp increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 397.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,150 shares of the biopharmaceutical company's stock after acquiring an additional 38,470 shares during the period. MADDEN SECURITIES Corp's holdings in Bristol Myers Squibb were worth $2,229,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New England Asset Management Inc. lifted its holdings in shares of Bristol Myers Squibb by 0.8% during the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after purchasing an additional 305 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Bristol Myers Squibb by 1.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after acquiring an additional 13,959 shares during the period. Sage Capital Advisors llc boosted its holdings in shares of Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock valued at $3,946,000 after acquiring an additional 32,181 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Bristol Myers Squibb in the first quarter worth approximately $843,000. Finally, Avaii Wealth Management LLC raised its holdings in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after purchasing an additional 67,221 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 0.6%

NYSE BMY opened at $45.16 on Tuesday. The stock's 50-day moving average price is $46.31 and its 200-day moving average price is $48.38. The company has a market capitalization of $91.92 billion, a P/E ratio of 18.21, a price-to-earnings-growth 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 Company has a 52 week low of $42.96 and a 52 week high of $63.33.

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. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction 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 sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup cut their target price 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. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average price target of $57.14.

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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