Strs Ohio Takes Position in Bristol Myers Squibb Company $BMY

Key Points

• Strs Ohio has acquired 595,262 shares of Bristol Myers Squibb valued at approximately $36.3 million, indicating significant institutional interest in the biopharmaceutical company.
• Bristol Myers Squibb reported an EPS of $1.46 for its last quarter, exceeding analyst expectations and reflecting a year-over-year revenue increase of 0.6%.
• The company also declared a quarterly dividend of $0.62, resulting in a 5.2% yield, although its dividend payout ratio stands at 100%.

Strs Ohio acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 595,262 shares of the biopharmaceutical company's stock, valued at approximately $36,305,000.

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

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $1.32 during trading on Friday, reaching $46.22. The company had a trading volume of 11,892,193 shares, compared to its average volume of 9,112,865. The stock's fifty day moving average price is $47.08 and its 200 day moving average price is $50.13. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $94.08 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

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, 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 firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. Bristol Myers Squibb's quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent analyst reports. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Citigroup cut their price target on 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. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One 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 given a Sell rating to the company. According to MarketBeat, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average price target of $56.38.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction 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 directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.