Promethium Advisors LLC Sells 10,000 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Promethium Advisors LLC reduced its stock position in Bristol Myers Squibb by 17.8%, now holding 46,050 shares worth approximately $2.81 million.
• Several institutional investors have adjusted their stakes in Bristol Myers Squibb, with notable increases from Brighton Jones LLC (up 33.4%) and Bank Pictet & Cie Europe AG (new position worth approximately $13.09 million).
• Analysts have set a consensus rating of "Hold" for Bristol Myers Squibb, with a revised average price target of $56.38 after several firms adjusted their ratings.

Promethium Advisors LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,050 shares of the biopharmaceutical company's stock after selling 10,000 shares during the period. Bristol Myers Squibb makes up 1.8% of Promethium Advisors LLC's investment portfolio, making the stock its 17th biggest holding. Promethium Advisors LLC's holdings in Bristol Myers Squibb were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb in the 1st quarter worth about $624,369,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Bristol Myers Squibb by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after acquiring an additional 3,196,919 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BMY shares. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report 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. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. 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. 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $56.38.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded up $0.39 on Friday, reaching $47.08. 8,227,003 shares of the company traded hands, compared to its average volume of 9,276,282. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a 50 day moving average of $47.09 and a 200 day moving average of $50.51. The firm has a market capitalization of $95.84 billion, a PE ratio of 18.99, a PEG ratio of 2.39 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 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the firm earned $2.07 EPS. The company's revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

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.