OLD National Bancorp IN Has $9.44 Million Position in Bristol Myers Squibb Company $BMY

Key Points

• OLD National Bancorp IN increased its stake in Bristol Myers Squibb by 3.6%, owning 204,028 shares now valued at approximately $9.44 million.
• Bristol Myers Squibb reported a net revenue of $12.27 billion for the last quarter, exceeding expectations, and beat EPS estimates with earnings of $1.46 per share.
• Insider trading activity included EVP David V. Elkins selling 56,000 shares, resulting in a 25.07% decrease in his holdings.

OLD National Bancorp IN boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,028 shares of the biopharmaceutical company's stock after buying an additional 7,136 shares during the period. OLD National Bancorp IN's holdings in Bristol Myers Squibb were worth $9,444,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Vest Financial LLC increased its position in shares of Bristol Myers Squibb by 73.5% in the 1st quarter. Vest Financial LLC now owns 16,912 shares of the biopharmaceutical company's stock valued at $1,031,000 after buying an additional 7,166 shares in the last quarter. Foster Group Inc. bought a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $257,000. Insight Advisors LLC PA increased its position in shares of Bristol Myers Squibb by 8.9% in the 1st quarter. Insight Advisors LLC PA now owns 4,653 shares of the biopharmaceutical company's stock valued at $284,000 after buying an additional 382 shares in the last quarter. Finally, Procyon Advisors LLC increased its position in shares of Bristol Myers Squibb by 52.3% in the 1st quarter. Procyon Advisors LLC now owns 28,423 shares of the biopharmaceutical company's stock valued at $1,733,000 after buying an additional 9,763 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 owned 167,379 shares of the company's stock, 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 SEC, which is available at this link. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMY. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Dbs Bank upgraded shares of Bristol Myers Squibb to a "moderate buy" rating in a research report on Thursday. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup lowered 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. Finally, 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 report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Down 0.7%

Bristol Myers Squibb stock opened at $45.39 on Friday. The company has a market cap of $92.38 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a fifty day simple moving average of $46.36 and a 200 day simple moving average of $48.58. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given 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 5.5%. 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.

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.