TD Asset Management Inc Sells 5,939 Shares of Bristol Myers Squibb Company $BMY

Key Points

• TD Asset Management Inc has reduced its holdings in Bristol Myers Squibb by 0.4%, now owning approximately 1,550,700 shares valued at around $71.8 million.
• Bristol Myers Squibb reported $12.27 billion in revenue for the last quarter, surpassing estimates and showing a 0.6% increase from the previous year.
• The company declared a quarterly dividend of $0.62 per share, reflecting a healthy annual yield of 5.7%, with a dividend payout ratio of 100%.

TD Asset Management Inc reduced its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,550,700 shares of the biopharmaceutical company's stock after selling 5,939 shares during the quarter. TD Asset Management Inc owned approximately 0.08% of Bristol Myers Squibb worth $71,782,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BMY. Wellington Management Group LLP lifted its holdings in 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. GQG Partners LLC raised its position in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the last quarter. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth approximately $624,369,000. Kingstone Capital Partners Texas LLC bought a new stake in Bristol Myers Squibb in the second quarter valued at approximately $98,898,000. Finally, Bank of New York Mellon Corp increased its position in 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 valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $43.63 on Thursday. The firm has a market capitalization of $88.81 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33. The firm's 50-day moving average price is $46.16 and its 200-day moving average price is $47.79. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.32 billion. During the same period last year, the business posted $2.07 EPS. The firm's revenue for the quarter 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 anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMY. Weiss Ratings restated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note 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 downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Finally, Dbs Bank raised Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average target price of $57.14.

Insider Transactions at Bristol Myers Squibb

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 shares were sold at an average price of $47.33, for a total transaction 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. The trade was a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Company 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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