Neville Rodie & Shaw Inc. Reduces Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Neville Rodie & Shaw Inc. has reduced its stock holdings in Bristol Myers Squibb by 22.5%, owning 38,804 shares after selling 11,285 shares in the second quarter.
• Bristol Myers Squibb recently reported an EPS of $1.46, exceeding expectations, with revenues reaching $12.27 billion, a 0.6% year-over-year increase.
• Analysts have issued mixed ratings for the company, with price targets reduced; Citigroup and Daiwa Capital Markets both lowered their price objectives for the stock.

Neville Rodie & Shaw Inc. decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,804 shares of the biopharmaceutical company's stock after selling 11,285 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in Bristol Myers Squibb were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 position in Bristol Myers Squibb during the fourth quarter valued at $26,000. Global Wealth Strategies & Associates lifted its position in Bristol Myers Squibb by 137.5% during the first 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. purchased a new position in Bristol Myers Squibb during the first quarter valued at $31,000. Finally, Accent Capital Management LLC purchased a new position in Bristol Myers Squibb during the first quarter valued at $33,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction dated 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 directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on BMY. Citigroup lowered their price objective on 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. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $46.22 on Friday. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The business has a fifty day moving average price of $47.08 and a 200-day moving average price of $50.18. The company has a market capitalization of $94.08 billion, a PE ratio of 18.64, a PEG ratio of 2.43 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate 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 company 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 EPS. Bristol Myers Squibb's revenue for the quarter 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 expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date was Thursday, July 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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