Bristol Myers Squibb Company $BMY Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its stake in Bristol Myers Squibb by 37.5%, selling 10,700 shares, leaving them with 17,841 shares valued at $826,000.
• Several hedge funds have altered their positions in Bristol Myers Squibb, with Marcum Wealth LLC and Beacon Investment Advisory Services Inc. increasing their stakes during the first quarter.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, with a yield of 5.5%, to be paid on November 3rd.

Perpetual Ltd lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 37.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,841 shares of the biopharmaceutical company's stock after selling 10,700 shares during the period. Perpetual Ltd's holdings in Bristol Myers Squibb were worth $826,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC raised its position in Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC acquired a new position in Bristol Myers Squibb during the first quarter valued at approximately $624,369,000. GAMMA Investing LLC raised its position in Bristol Myers Squibb by 7,142.8% during the first quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company's stock valued at $147,619,000 after purchasing an additional 2,386,970 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Bristol Myers Squibb during the second quarter valued at approximately $98,898,000. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMY. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, August 5th. Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, 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. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Trading Down 0.1%

Shares of Bristol Myers Squibb stock traded down $0.03 during trading on Tuesday, hitting $44.95. The stock had a trading volume of 5,888,182 shares, compared to its average volume of 13,008,683. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The firm's fifty day simple moving average is $46.88 and its 200-day simple moving average is $49.47. The stock has a market cap of $91.50 billion, a PE ratio of 18.12, a PEG ratio of 2.30 and a beta of 0.35. 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 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side 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 will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction on 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 directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.