Salem Investment Counselors Inc. Has $1.04 Million Stake in Bristol Myers Squibb Company $BMY

Key Points

• Salem Investment Counselors Inc. has reduced its stake in Bristol Myers Squibb by 26.7%, now holding 22,444 shares worth approximately $1.04 million.
• Bristol Myers Squibb recently reported $1.46 earnings per share for the quarter, significantly beating consensus estimates of $1.07, along with a revenue of $12.27 billion.
• Analysts have adjusted price targets for Bristol Myers Squibb, with Daiwa Capital Markets lowering their rating from "outperform" to "neutral" and setting a new price objective of $42.00.

Salem Investment Counselors Inc. reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,444 shares of the biopharmaceutical company's stock after selling 8,194 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Bristol Myers Squibb were worth $1,039,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the 4th quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates raised its stake in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Bristol Myers Squibb in the 1st quarter worth approximately $31,000. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb during the 1st quarter worth approximately $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 2.8%

Shares of NYSE BMY opened at $46.22 on Monday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The firm's 50-day moving average is $47.08 and its 200-day moving average is $50.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $94.08 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35.

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

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid 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 5.4%. Bristol Myers Squibb's payout ratio is 100.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on BMY. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective 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 report on Friday, June 6th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Citigroup reduced their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $56.38.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company's stock.

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.

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