Bristol Myers Squibb Company $BMY Stock Position Lowered by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P decreased its stake in Bristol Myers Squibb by 4.4%, selling 22,082 shares during the first quarter, leaving it with 483,057 shares valued at approximately $29.46 million.
• Bristol Myers Squibb's quarterly earnings surpassed estimates, reporting $1.46 earnings per share and $12.27 billion in revenue, indicating a year-over-year revenue increase of 0.6%.
• The company recently announced a quarterly dividend of $0.62 per share, yielding 5.1%, with a payout ratio currently at 100%.

Martingale Asset Management L P decreased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 483,057 shares of the biopharmaceutical company's stock after selling 22,082 shares during the quarter. Bristol Myers Squibb accounts for approximately 0.7% of Martingale Asset Management L P's holdings, making the stock its 29th largest position. Martingale Asset Management L P's holdings in Bristol Myers Squibb were worth $29,462,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BMY. Wellington Management Group LLP grew its position in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. GQG Partners LLC grew its position in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the 1st quarter worth approximately $624,369,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock traded down $0.5880 during mid-day trading on Friday, hitting $47.8420. 11,602,099 shares of the company's stock traded hands, compared to its average volume of 12,653,990. The firm has a 50 day moving average price of $47.06 and a 200 day moving average price of $51.06. 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 company has a market cap of $97.38 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.45 and a beta of 0.36. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.2%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average target price 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.