Redwood Investment Management LLC Has $2.03 Million Stake in Bristol Myers Squibb Company $BMY

Key Points

• Redwood Investment Management LLC has reduced its position in Bristol Myers Squibb by 21.7%, holding 33,292 shares valued at approximately $2,030,000 after selling 9,217 shares in the first quarter.
• Bristol Myers Squibb's stock is currently down 1.6%, with shares opening at $47.15 amidst ongoing institutional activity, where 76.41% of the stock is owned by hedge funds and other institutional investors.
• The company recently announced a quarterly dividend of $0.62, representing an annualized amount of $2.48 and yielding 5.3%, although its dividend payout ratio is currently at 100%.

Redwood Investment Management LLC decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 21.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,292 shares of the biopharmaceutical company's stock after selling 9,217 shares during the quarter. Redwood Investment Management LLC's holdings in Bristol Myers Squibb were worth $2,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $13,094,000. Nebula Research & Development LLC bought a new stake in Bristol Myers Squibb in the fourth quarter worth approximately $709,000. Coldstream Capital Management Inc. increased its stake in shares of Bristol Myers Squibb by 24.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 36,287 shares of the biopharmaceutical company's stock worth $2,052,000 after purchasing an additional 7,154 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $1,495,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Daiwa Capital Markets cut 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. 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 reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup reduced their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Finally, Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Stock Performance

NYSE BMY traded up $0.29 during trading on Friday, hitting $47.17. The company's stock had a trading volume of 10,685,502 shares, compared to its average volume of 10,735,505. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. 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 has a market cap of $96.01 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. The firm has a 50 day moving average price of $47.05 and a 200 day moving average price of $50.74.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate 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 posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb's dividend payout ratio is currently 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.