Pzena Investment Management LLC Purchases 1,384,649 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Pzena Investment Management LLC increased its stake in Bristol Myers Squibb by 10.3%, acquiring an additional 1,384,649 shares, bringing its total holdings to nearly 14.8 million shares.
• Bristol Myers Squibb's recent quarterly earnings surpassed analysts' expectations, reporting an EPS of $1.46 and revenues of $12.27 billion, up 0.6% compared to the previous year.
• The company announced a $0.62 quarterly dividend, with an annualized yield of 5.6%, and has a current dividend payout ratio (DPR) of 100.00%.

Pzena Investment Management LLC boosted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,843,475 shares of the biopharmaceutical company's stock after acquiring an additional 1,384,649 shares during the period. Bristol Myers Squibb accounts for about 2.2% of Pzena Investment Management LLC's holdings, making the stock its 20th biggest position. Pzena Investment Management LLC owned approximately 0.73% of Bristol Myers Squibb worth $687,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Trifecta Capital Advisors LLC bought a new position in Bristol Myers Squibb in the second quarter worth approximately $25,000. REAP Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $44.01 on Monday. The business's fifty day simple moving average is $46.26 and its 200 day simple moving average is $47.96. The firm has a market capitalization of $89.57 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.33. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. 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 (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The business 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%.Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.14.

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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