The Manufacturers Life Insurance Company Sells 149,770 Shares of Bristol Myers Squibb Company $BMY

Key Points

• The Manufacturers Life Insurance Company decreased its stake in Bristol Myers Squibb by 9.2% in the first quarter, now owning approximately $89.88 million worth of the company's stock.
• Bristol Myers Squibb reported earnings of $1.46 per share for its last quarter, exceeding analysts' expectations of $1.07, with a revenue of $12.27 billion—a year-over-year increase of 0.6%.
• The company recently declared a quarterly dividend of $0.62, reflecting a strong yield of 5.3%.

The Manufacturers Life Insurance Company cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,473,600 shares of the biopharmaceutical company's stock after selling 149,770 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Bristol Myers Squibb worth $89,875,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $26,000. Global Wealth Strategies & Associates grew 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 buying an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb during the first quarter worth $31,000. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb during the 1st quarter worth about $33,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BMY shares. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Finally, Citigroup reduced their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded up $0.20 on Tuesday, hitting $47.38. The company's stock had a trading volume of 9,507,835 shares, compared to its average volume of 13,143,619. The firm has a market capitalization of $96.44 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.35. The stock has a fifty day moving average of $47.05 and a two-hundred day moving average of $50.66. Bristol Myers Squibb Company has a one year low of $42.96 and a one year 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.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $11.32 billion. During the same period last year, the firm earned $2.07 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company 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. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's 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.