Vest Financial LLC Boosts Stock Position in Bristol Myers Squibb Company $BMY

Key Points

• Vest Financial LLC increased its position in Bristol Myers Squibb Company by 39.2% during the 2nd quarter, holding 23,549 shares worth approximately $1.09 million at the end of the quarter.
• Bristol Myers Squibb reported earnings per share (EPS) of $1.46 for the latest quarter, exceeding analyst expectations of $1.07, alongside revenue of $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, with a yield of 5.7%, set to be paid on November 3rd.

Vest Financial LLC boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 39.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,549 shares of the biopharmaceutical company's stock after purchasing an additional 6,637 shares during the quarter. Vest Financial LLC's holdings in Bristol Myers Squibb were worth $1,090,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in shares of Bristol Myers Squibb by 10.3% in the 2nd quarter. Pzena Investment Management LLC now owns 14,843,475 shares of the biopharmaceutical company's stock valued at $687,104,000 after acquiring an additional 1,384,649 shares during the last quarter. M.E. Allison & CO. Inc. increased its holdings in shares of Bristol Myers Squibb by 18.2% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 8,761 shares of the biopharmaceutical company's stock valued at $406,000 after acquiring an additional 1,348 shares during the last quarter. Cypress Capital Group increased its holdings in shares of Bristol Myers Squibb by 2.2% in the 2nd quarter. Cypress Capital Group now owns 73,839 shares of the biopharmaceutical company's stock valued at $3,418,000 after acquiring an additional 1,570 shares during the last quarter. Bill Few Associates Inc. increased its holdings in shares of Bristol Myers Squibb by 6.4% in the 2nd quarter. Bill Few Associates Inc. now owns 10,595 shares of the biopharmaceutical company's stock valued at $490,000 after acquiring an additional 633 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Bristol Myers Squibb by 193.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 535,902 shares of the biopharmaceutical company's stock valued at $25,461,000 after acquiring an additional 353,392 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Down 0.4%

NYSE:BMY opened at $43.63 on Thursday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market capitalization of $88.81 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The business has a 50 day simple moving average of $46.16 and a 200 day simple moving average of $47.79.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm's quarterly 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 predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. Dbs Bank upgraded Bristol Myers Squibb to a "moderate buy" rating in a report on Thursday, October 2nd. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday. Finally, Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $57.14.

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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