Public Employees Retirement System of Ohio Has $41.48 Million Position in Bristol Myers Squibb Company $BMY

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Bristol Myers Squibb Company by 5.0% in Q2, now owning 896,180 shares valued at approximately $41.48 million.
• Bristol Myers Squibb reported a Q2 earnings of $1.46 per share, surpassing analyst expectations, with total revenue of $12.27 billion.
• The company is set to pay a quarterly dividend of $0.62 per share on November 3rd, maintaining a dividend yield of 5.6%.

Public Employees Retirement System of Ohio reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 896,180 shares of the biopharmaceutical company's stock after selling 46,686 shares during the period. Public Employees Retirement System of Ohio's holdings in Bristol Myers Squibb were worth $41,484,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BMY. Brighton Jones LLC boosted its position in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Bristol Myers Squibb by 8.4% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 4,514 shares of the biopharmaceutical company's stock valued at $255,000 after purchasing an additional 349 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $26,000. Wood Tarver Financial Group LLC acquired a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $38,000. Finally, Mattson Financial Services LLC boosted its position in Bristol Myers Squibb by 3,318.2% during the fourth quarter. Mattson Financial Services LLC now owns 752 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 730 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent research reports. Daiwa Capital Markets cut 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. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Citigroup cut their price objective on 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $44.20 on Thursday. The firm has a market cap of $89.96 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The business's 50 day moving average is $46.79 and its 200-day moving average is $49.40.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

About Bristol Myers Squibb

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.

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