New Century Financial Group LLC Acquires New Holdings in Bristol Myers Squibb Company $BMY

Key Points

• New Century Financial Group LLC acquired a new stake in Bristol Myers Squibb Company by purchasing 25,091 shares valued at approximately $1,161,000, making it the firm's 26th biggest position.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, which results in an annualized yield of 5.4% and a dividend payout ratio of 100%.
• Despite a solid earnings report, analysts have mixed opinions, with several downgrading their ratings; the consensus rating for Bristol Myers Squibb is currently a "Hold".

New Century Financial Group LLC purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,091 shares of the biopharmaceutical company's stock, valued at approximately $1,161,000. Bristol Myers Squibb accounts for approximately 1.4% of New Century Financial Group LLC's portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently modified their holdings of BMY. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb during the 1st quarter worth $31,000. Accent Capital Management LLC acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $33,000. CBIZ Investment Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 66.0% during 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 during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Bristol Myers Squibb during the first quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm's 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 transaction, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $45.75 on Friday. The business has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $48.76. Bristol Myers Squibb Company has a one year low of $42.96 and a one 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 firm has a market capitalization of $93.12 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.43 and a beta of 0.33.

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, beating 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 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 company posted $2.07 earnings per share. The company'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. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMY shares. 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. Citigroup decreased 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 report on Friday, August 1st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $56.38.

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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.