VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 1,555,496 Bristol Myers Squibb Company $BMY

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al acquired 1,555,496 shares of Bristol Myers Squibb, valued at approximately $72 million, in the second quarter.
• Institutional investors collectively own 76.41% of Bristol Myers Squibb, with several firms reporting significant increases in their stakes during the first quarter.
• Brokerages have given Bristol Myers Squibb an average rating of "Hold" and a price target of $57.23, reflecting mixed sentiments from analysts.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,555,496 shares of the biopharmaceutical company's stock, valued at approximately $72,004,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Bristol Myers Squibb at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its position in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after buying an additional 11,970,598 shares in the last quarter. Nuveen LLC bought a new stake in Bristol Myers Squibb during the first quarter valued at $624,369,000. Kingstone Capital Partners Texas LLC purchased a new position in Bristol Myers Squibb during the second quarter worth about $98,898,000. Finally, Bank of New York Mellon Corp increased its stake in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BMY. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Dbs Bank raised shares of Bristol Myers Squibb to a "moderate buy" rating in a research note on Thursday, October 2nd. Daiwa Capital Markets cut 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 report on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average price target of $57.23.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $43.63 on Friday. The firm has a fifty day simple moving average of $46.07 and a two-hundred day simple moving average of $47.47. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a market capitalization of $88.80 billion, a PE ratio of 17.59, a P/E/G ratio of 2.26 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data 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 return on equity of 80.04% and a net margin of 10.58%.The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The company'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. Research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

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

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company's stock.

Bristol Myers Squibb Company 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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