Te Ahumairangi Investment Management Ltd Sells 14,647 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Te Ahumairangi Investment Management Ltd reduced its stake in Bristol Myers Squibb by 20%, now holding 58,497 shares valued at approximately $3.57 million.
• Recent analyst ratings have shown a downward trend for Bristol Myers Squibb, with several brokerages lowering their ratings and price targets, indicating a shift from a "strong-buy" to a "buy" or "hold" status.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding estimates, and provided FY 2025 guidance at 6.350-6.650 EPS.

Te Ahumairangi Investment Management Ltd trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,497 shares of the biopharmaceutical company's stock after selling 14,647 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Bristol Myers Squibb were worth $3,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Marcum Wealth LLC boosted its holdings in shares of Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its stake in shares of Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC increased its position in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares in the last quarter. Tompkins Financial Corp grew its holdings in Bristol Myers Squibb by 2.5% in the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after buying an additional 225 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its stake in Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock worth $1,038,000 after acquiring an additional 225 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Up 0.4%

Shares of BMY stock traded up $0.20 during mid-day trading on Tuesday, reaching $47.38. The stock had a trading volume of 9,349,377 shares, compared to its average volume of 13,129,523. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. 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 stock's 50-day moving average price is $47.05 and its two-hundred day moving average price is $50.66. The firm has a market capitalization of $96.44 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results 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 company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same period last 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. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMY. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. 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. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Finally, Citigroup decreased 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.