Price T Rowe Associates Inc. MD Has $353.10 Million Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Bristol Myers Squibb by 23.1%, selling 1,738,535 shares, and now holds 5,789,376 shares valued at approximately $353 million.
• The company's stock has seen a decline of 1.2%, with a current market price around $47.84, and has a PE ratio of 19.29.
• Bristol Myers Squibb recently reported earnings of $1.46 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.62 per share, translating to a 5.2% yield.

Price T Rowe Associates Inc. MD cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 23.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,789,376 shares of the biopharmaceutical company's stock after selling 1,738,535 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.28% of Bristol Myers Squibb worth $353,095,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates lifted its stake in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb during the first quarter valued at about $31,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb during the first quarter valued at about $33,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on BMY shares. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. 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 report on Tuesday, August 5th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Up 0.8%

BMY traded up $0.39 during midday trading on Wednesday, hitting $47.60. 8,561,129 shares of the company's stock traded hands, compared to its average volume of 13,213,331. The company has a market cap of $96.88 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. The stock's fifty day simple moving average is $47.03 and its 200-day simple moving average is $50.92. 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 Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's revenue for the quarter was up .6% on a year-over-year basis. 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. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 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.