Versant Capital Management Inc Sells 6,465 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Versant Capital Management Inc reduced its stake in Bristol Myers Squibb by 7.9%, selling 6,465 shares, leaving them with 74,883 shares valued at approximately $3.47 million.
• Recent analyst reports have lowered Bristol Myers Squibb's ratings, with Wall Street Zen changing its view from "strong-buy" to "buy," and Citigroup reducing its target price from $51 to $47.
• The company announced a quarterly dividend of $0.62, which has a 5.4% dividend yield, though the payout ratio stands at 100%.

Versant Capital Management Inc trimmed its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,883 shares of the biopharmaceutical company's stock after selling 6,465 shares during the period. Versant Capital Management Inc's holdings in Bristol Myers Squibb were worth $3,466,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates raised its holdings 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 acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb during the first quarter worth about $31,000. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb during the first quarter worth about $33,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction 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.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $46.22 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock's 50 day moving average price is $47.08 and its two-hundred day moving average price is $50.13. The firm has a market capitalization of $94.08 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 2.43 and a beta of 0.35. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The firm'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. On average, analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio is presently 100.00%.

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.

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