Perigon Wealth Management LLC Has $2.48 Million Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Perigon Wealth Management LLC reduced its holdings in Bristol Myers Squibb by 14.1% during the second quarter, now owning 53,530 shares worth approximately $2.48 million.
• Insider transaction highlights include David V. Elkins selling 56,000 shares for over $2.65 million, reflecting a 25.07% decrease in ownership.
• Analysts have downgraded Bristol Myers Squibb stock ratings, with an average target price of $56.38 amidst various brokerage recommendations.

Perigon Wealth Management LLC trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,530 shares of the biopharmaceutical company's stock after selling 8,768 shares during the period. Perigon Wealth Management LLC's holdings in Bristol Myers Squibb were worth $2,478,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BMY. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bristol Myers Squibb in the first quarter worth approximately $31,000. Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the first quarter valued at approximately $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 purchasing an additional 231 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Bristol Myers Squibb in the 1st quarter worth $36,000. Institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

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 transaction of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Citigroup lowered their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One 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, the company currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $44.12 on Friday. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company's 50 day moving average price is $46.63 and its two-hundred day moving average price is $49.15. The stock has a market cap of $89.80 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.22 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 business posted $2.07 earnings per share. Bristol Myers Squibb'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. On average, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's payout ratio 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.

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.