Bristol Myers Squibb Company $BMY Shares Sold by Triumph Capital Management

Key Points

• Triumph Capital Management has reduced its stake in Bristol Myers Squibb by 52.7%, owning 12,399 shares, valued at $574,000 after selling 13,828 shares in the second quarter.
• Several investors increased their holdings in Bristol Myers Squibb, with Byrne Asset Management raising its stake by 72.0%, now owning 2,148 shares worth $99,000.
• Analyst ratings for Bristol Myers Squibb show a consensus Hold rating with a target price of $56.38, after several downgrades from firms like Daiwa Capital Markets and Citigroup.

Triumph Capital Management trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 52.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,399 shares of the biopharmaceutical company's stock after selling 13,828 shares during the quarter. Triumph Capital Management's holdings in Bristol Myers Squibb were worth $574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Byrne Asset Management LLC boosted its holdings in Bristol Myers Squibb by 72.0% in the 2nd quarter. Byrne Asset Management LLC now owns 2,148 shares of the biopharmaceutical company's stock valued at $99,000 after purchasing an additional 899 shares during the last quarter. Czech National Bank lifted its holdings in shares of Bristol Myers Squibb by 6.7% in the 2nd quarter. Czech National Bank now owns 497,446 shares of the biopharmaceutical company's stock worth $23,027,000 after acquiring an additional 31,344 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of Bristol Myers Squibb by 6.0% in the 2nd quarter. Range Financial Group LLC now owns 55,280 shares of the biopharmaceutical company's stock worth $2,559,000 after acquiring an additional 3,140 shares during the last quarter. Little House Capital LLC lifted its holdings in shares of Bristol Myers Squibb by 31.6% in the 2nd quarter. Little House Capital LLC now owns 25,028 shares of the biopharmaceutical company's stock worth $1,159,000 after acquiring an additional 6,009 shares during the last quarter. Finally, Next Level Private LLC lifted its holdings in shares of Bristol Myers Squibb by 3.2% in the 2nd quarter. Next Level Private LLC now owns 75,599 shares of the biopharmaceutical company's stock worth $3,499,000 after acquiring an additional 2,365 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Down 1.2%

Shares of BMY traded down $0.55 during midday trading on Friday, reaching $45.05. The stock had a trading volume of 28,352,566 shares, compared to its average volume of 9,937,920. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company's fifty day simple moving average is $46.93 and its two-hundred day simple moving average is $49.73. The company has a market cap of $91.70 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.33 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the business earned $2.07 EPS. The company'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. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

BMY has been the topic of several recent analyst reports. Citigroup decreased 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 report on Friday, August 1st. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. 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 company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average price target of $56.38.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm'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 sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company's stock.

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.