RNC Capital Management LLC Sells 12,659 Shares of Bristol Myers Squibb Company $BMY

RNC Capital Management LLC reduced its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 701,295 shares of the biopharmaceutical company's stock after selling 12,659 shares during the quarter. RNC Capital Management LLC's holdings in Bristol Myers Squibb were worth $32,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Vanguard Group Inc. grew its position in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after buying an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after buying an additional 306,430 shares during the period. Bank of New York Mellon Corp grew its position in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the period. Northern Trust Corp grew its position in shares of Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock worth $1,584,185,000 after buying an additional 1,316,144 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Bristol Myers Squibb by 297.0% during 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 buying an additional 17,750,938 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company's 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 sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Trading Down 0.4%

Shares of Bristol Myers Squibb stock opened at $44.36 on Thursday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market cap of $90.29 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.32 and a beta of 0.33. 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 business's 50 day moving average is $45.92 and its 200-day moving average is $47.28.

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 analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the prior year, the business posted $2.07 EPS. The business'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 research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed 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 is currently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMY. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $57.23.

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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