Rockland Trust Co. Raises Position in Bristol Myers Squibb Company $BMY

Key Points

• Rockland Trust Co. increased its stake in Bristol Myers Squibb by 4.5%, acquiring an additional 7,949 shares, bringing its total ownership to 183,202 shares valued at approximately $8.48 million.
• Recent analyst reports have shown a trend of downgrades for Bristol Myers Squibb, including a cut from "strong-buy" to "buy" by Wall Street Zen, while several firms have lowered their price targets.
• Bristol Myers Squibb is set to pay a quarterly dividend of $0.62 per share on November 3rd, with a resulting annual yield of 5.4%, despite a payout ratio of 100%.

Rockland Trust Co. lifted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,202 shares of the biopharmaceutical company's stock after acquiring an additional 7,949 shares during the quarter. Rockland Trust Co.'s holdings in Bristol Myers Squibb were worth $8,480,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. New England Asset Management Inc. increased its position in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after purchasing an additional 305 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock worth $78,580,000 after buying an additional 13,959 shares during the last quarter. Sage Capital Advisors llc raised its position in Bristol Myers Squibb by 60.7% in the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock worth $3,946,000 after acquiring an additional 32,181 shares during the period. Ransom Advisory Ltd purchased a new position in Bristol Myers Squibb in the first quarter valued at about $843,000. Finally, Avaii Wealth Management LLC increased its stake in shares of Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after purchasing an additional 67,221 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Up 0.3%

BMY traded up $0.13 on Monday, hitting $45.15. The company had a trading volume of 4,063,403 shares, compared to its average volume of 13,008,414. The stock has a fifty day simple moving average of $46.93 and a 200-day simple moving average of $49.58. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $91.89 billion, a P/E ratio of 18.21, a P/E/G ratio of 2.30 and a beta of 0.35. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during 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 business's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BMY shares. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup reduced their price target 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. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This 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 can be accessed through this link. 0.07% of the stock is owned by insiders.

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.