Swedbank AB Lowers Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Swedbank AB has reduced its holdings in Bristol Myers Squibb (NYSE:BMY) by 3.3%, owning 3,080,191 shares valued at approximately $187.86 million after selling 105,483 shares in the first quarter.
• During the same period, institutional investors, including Vanguard and Wellington Management, increased their positions in Bristol Myers Squibb, with Wellington Management showing a significant increase of 297%.
• The company reported quarterly earnings with an EPS of $1.46, exceeding expectations, and has set its FY 2025 guidance for EPS between 6.350-6.650.

Swedbank AB trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,080,191 shares of the biopharmaceutical company's stock after selling 105,483 shares during the quarter. Swedbank AB owned 0.15% of Bristol Myers Squibb worth $187,861,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Bristol Myers Squibb by 0.8% in the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock valued at $11,673,669,000 after purchasing an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Bristol Myers Squibb by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock valued at $3,696,415,000 after purchasing an additional 306,430 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Bristol Myers Squibb by 5.3% in the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company's stock valued at $1,584,185,000 after purchasing an additional 1,316,144 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction on 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Trading Up 0.8%

NYSE BMY opened at $47.52 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The stock has a market capitalization of $96.72 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. The firm has a 50 day moving average of $47.09 and a two-hundred day moving average of $50.26.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The firm's 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, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BMY shares. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. 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. Citigroup lowered their price target on shares of 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, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.38.

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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