Mutual Advisors LLC Grows Stake in Bristol Myers Squibb Company $BMY

Key Points

• Mutual Advisors LLC increased its stake in Bristol Myers Squibb by 29.2% in the second quarter, now holding 88,992 shares valued at approximately $4.31 million.
• A round of institutional investing saw multiple firms adding new positions, with 76.41% of the company's stock now owned by hedge funds and investors.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.62 to be paid in November.

Mutual Advisors LLC increased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 29.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,992 shares of the biopharmaceutical company's stock after acquiring an additional 20,095 shares during the period. Mutual Advisors LLC's holdings in Bristol Myers Squibb were worth $4,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb in the first quarter worth about $31,000. Trifecta Capital Advisors LLC purchased a new position in Bristol Myers Squibb in the second quarter worth about $25,000. Accent Capital Management LLC purchased a new position in Bristol Myers Squibb in the first quarter worth about $33,000. CBIZ Investment Advisory Services LLC grew its position in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in Bristol Myers Squibb in the first quarter worth about $36,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BMY. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Daiwa Capital Markets downgraded 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 reissued a "neutral" rating on shares of Bristol Myers Squibb in a research note on Monday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Bristol Myers Squibb in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $57.14.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction that occurred on 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 owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $43.63 on Thursday. The company has a 50 day moving average price of $46.16 and a 200-day moving average price of $47.79. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a market capitalization of $88.81 billion, a PE ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. The company's 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. As a group, equities analysts forecast 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 disclosed 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. 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 5.7%. Bristol Myers Squibb's payout ratio is 100.00%.

About Bristol Myers Squibb

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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