Mirae Asset Global Investments Co. Ltd. Grows Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Bristol Myers Squibb by 27.3%, owning over 2.1 million shares valued at approximately $98 million.
• The company recently declared a quarterly dividend of $0.62, representing a 5.4% yield, with the ex-dividend date set for October 3rd.
• Bristol Myers Squibb shares have faced downgrades from multiple analysts, with a consensus rating of "Hold" and a price target averaging $56.38.

Mirae Asset Global Investments Co. Ltd. grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 27.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,118,317 shares of the biopharmaceutical company's stock after buying an additional 454,160 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Bristol Myers Squibb worth $98,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $31,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $33,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $36,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. Daiwa Capital Markets cut 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 note on Tuesday, August 5th. Citigroup cut 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 note on Friday, August 1st. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Down 3.5%

Shares of NYSE BMY opened at $45.75 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a fifty day simple moving average of $46.42 and a two-hundred day simple moving average of $48.76. The firm has a market capitalization of $93.12 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.33. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly 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. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Bristol Myers Squibb Company 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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