Oak Harvest Investment Services Grows Position in Bristol Myers Squibb Company $BMY

Key Points

• Oak Harvest Investment Services increased its stake in Bristol Myers Squibb by 50.9%, owning 159,351 shares valued at approximately $9.7 million, making it the fund's 23rd largest position.
• Analysts have recently downgraded Bristol Myers Squibb's ratings, with Citigroup lowering its price target from $51 to $47, and the stock currently has an average rating of "Hold" with a consensus price target of $56.38.
• Bristol Myers Squibb reported earnings of $1.46 per share, surpassing estimates, and has declared a quarterly dividend of $0.62, yielding an annualized rate of 5.2%.

Oak Harvest Investment Services boosted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 50.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,351 shares of the biopharmaceutical company's stock after buying an additional 53,754 shares during the period. Bristol Myers Squibb makes up about 1.4% of Oak Harvest Investment Services' holdings, making the stock its 23rd biggest position. Oak Harvest Investment Services' holdings in Bristol Myers Squibb were worth $9,719,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Independent Franchise Partners LLP increased its stake in shares of Bristol Myers Squibb by 1.5% during the first quarter. Independent Franchise Partners LLP now owns 17,393,791 shares of the biopharmaceutical company's stock worth $1,060,847,000 after acquiring an additional 264,562 shares during the period. ICONIQ Capital LLC raised its position in Bristol Myers Squibb by 21.0% in the first quarter. ICONIQ Capital LLC now owns 12,317 shares of the biopharmaceutical company's stock worth $751,000 after acquiring an additional 2,140 shares in the last quarter. Jump Financial LLC acquired a new stake in Bristol Myers Squibb in the first quarter valued at $438,000. Cadence Bank boosted its position in shares of Bristol Myers Squibb by 2.1% during the 1st quarter. Cadence Bank now owns 173,116 shares of the biopharmaceutical company's stock worth $10,558,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Bristol Myers Squibb by 3.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 22,689 shares of the biopharmaceutical company's stock worth $1,362,000 after purchasing an additional 752 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on BMY. Citigroup reduced 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 reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Trading Down 1.6%

NYSE:BMY traded down $0.75 on Thursday, reaching $46.89. The stock had a trading volume of 7,869,919 shares, compared to its average volume of 13,180,743. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a market cap of $95.43 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.41 and a beta of 0.36. The firm's fifty day moving average is $47.04 and its two-hundred day moving average is $50.90. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the business 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. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

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.