MetLife Investment Management LLC Reduces Holdings in Bristol Myers Squibb Company $BMY

Key Points

• MetLife Investment Management LLC reduced its stake in Bristol Myers Squibb by 1.8%, owning 527,068 shares valued at approximately $32.15 million as of the end of the first quarter.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, exceeding analysts' expectations, with a revenue of $12.27 billion for the quarter.
• The company declared a quarterly dividend of $0.62, representing an annualized yield of 5.2%, with a dividend payout ratio of 100%.

MetLife Investment Management LLC decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,068 shares of the biopharmaceutical company's stock after selling 9,765 shares during the quarter. MetLife Investment Management LLC's holdings in Bristol Myers Squibb were worth $32,146,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BMY. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at $26,000. Global Wealth Strategies & Associates increased its stake in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the 1st quarter valued at $31,000. Finally, Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb during the 1st quarter worth $33,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Price Performance

NYSE:BMY traded up $0.08 during trading hours on Friday, reaching $46.96. The company had a trading volume of 3,942,357 shares, compared to its average volume of 13,123,185. The stock has a 50-day moving average of $47.04 and a two-hundred day moving average of $50.84. 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 firm has a market capitalization of $95.57 billion, a PE ratio of 18.94, a PEG ratio of 2.44 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 posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period last year, the company earned $2.07 earnings per share. Bristol Myers Squibb'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. Analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analysts Set New Price Targets

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