Tema Etfs LLC Acquires New Stake in Bristol Myers Squibb Company $BMY

Key Points

• Tema Etfs LLC has acquired a new stake in Bristol Myers Squibb Company, purchasing 75,050 shares valued at approximately $4.58 million, representing 1.4% of its investment portfolio.
• Institutional investors have increased their holdings in Bristol Myers Squibb, with 76.41% of the stock now owned by such investors, indicating strong market interest.
• The company's latest earnings report showed an EPS of $1.46, exceeding analyst expectations, and announced a quarterly dividend of $0.62 per share, contributing to a 5.2% dividend yield.

Tema Etfs LLC acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 75,050 shares of the biopharmaceutical company's stock, valued at approximately $4,577,000. Bristol Myers Squibb accounts for approximately 1.4% of Tema Etfs LLC's portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMY. Wellington Management Group LLP raised its position 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 buying an additional 17,750,938 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. GQG Partners LLC raised its position in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock valued at $733,310,000 after buying an additional 11,970,598 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at approximately $624,369,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BMY shares. Citigroup dropped 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 research report on Friday, August 1st. Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets downgraded 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 research report on Tuesday, August 5th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.29 during trading on Monday, hitting $47.17. 10,685,502 shares of the company were exchanged, compared to its average volume of 10,338,380. The business's 50 day moving average is $47.05 and its 200-day moving average is $50.70. The company has a market capitalization of $96.01 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. 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 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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.