Truvestments Capital LLC Increases Position in Bristol Myers Squibb Company $BMY

Key Points

• Truvestments Capital LLC increased its stake in Bristol Myers Squibb by 779.1% during the first quarter, acquiring a total of 59,796 shares valued at approximately $3.65 million.
• Despite a recent earnings report showing $1.46 earnings per share, exceeding the consensus estimate, analysts remain cautious with various upgrades and downgrades, leading to an average rating of "Hold" for the stock.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, contributing to a 5.2% dividend yield, though the company's payout ratio currently stands at 100%.

Truvestments Capital LLC grew its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 779.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 59,796 shares of the biopharmaceutical company's stock after buying an additional 52,994 shares during the period. Truvestments Capital LLC's holdings in Bristol Myers Squibb were worth $3,647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Marcum Wealth LLC raised its holdings in shares of Bristol Myers Squibb by 1.0% in the first 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 during the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the last quarter. 1858 Wealth Management LLC raised its holdings 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 during the last quarter. Tompkins Financial Corp raised its holdings in shares of Bristol Myers Squibb by 2.5% in the first 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 during the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after buying an additional 225 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 0.2%

Shares of BMY opened at $47.25 on Wednesday. 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 firm's 50-day moving average is $47.03 and its two-hundred day moving average is $50.92. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The firm has a market capitalization of $96.16 billion, a P/E ratio of 19.05, a PEG ratio of 2.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share 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 analyst estimates of $11.32 billion. During the same period in the prior year, the business posted $2.07 earnings per share. 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. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BMY shares. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Citigroup dropped their price target 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 issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and an average target price of $56.38.

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.

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