Plato Investment Management Ltd Has $4.85 Million Position in Bristol Myers Squibb Company $BMY

Key Points

• Plato Investment Management Ltd reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 35.7% during the 1st quarter, holding 78,605 shares worth approximately $4.8 million after selling 43,619 shares.
• Other institutional investors, including Wellington Management and GQG Partners, significantly increased their positions in Bristol Myers Squibb, with Wellington's stake growing by 297% to nearly 23.7 million shares.
• Bristol Myers Squibb reported an earnings per share (EPS) of $1.46 for the last quarter, exceeding analyst expectations, and declared a quarterly dividend of $0.62 per share, yielding 5.2%.

Plato Investment Management Ltd trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,605 shares of the biopharmaceutical company's stock after selling 43,619 shares during the period. Plato Investment Management Ltd's holdings in Bristol Myers Squibb were worth $4,846,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb during the 4th quarter worth $26,000. Global Wealth Strategies & Associates grew its holdings in Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the 1st quarter worth $31,000. Finally, Accent Capital Management LLC acquired a new position in Bristol Myers Squibb during the 1st quarter worth $33,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMY shares. Daiwa Capital Markets lowered 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 report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Citigroup reduced their price target 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock traded down $1.32 during trading hours on Friday, hitting $46.22. 11,892,193 shares of the company traded hands, compared to its average volume of 9,078,454. The firm has a market cap of $94.08 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.43 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. The firm's 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $50.13. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's payout ratio is currently 100.00%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred 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 transaction, the executive vice president owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

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.