Bristol Myers Squibb Company $BMY Shares Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC significantly increased its stake in Bristol Myers Squibb by 15,199.0% during Q2, holding 614,100 shares valued at approximately $28.43 million.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations of $1.07, with revenues of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, with a current dividend yield of 5.5% and a payout ratio of 100%.

Wedge Capital Management L L P NC lifted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15,199.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 614,100 shares of the biopharmaceutical company's stock after purchasing an additional 610,086 shares during the quarter. Wedge Capital Management L L P NC's holdings in Bristol Myers Squibb were worth $28,427,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $13,094,000. Waverly Advisors LLC increased its stake in shares of Bristol Myers Squibb by 140.0% during the fourth quarter. Waverly Advisors LLC now owns 32,099 shares of the biopharmaceutical company's stock worth $1,816,000 after purchasing an additional 18,722 shares during the period. Continuum Advisory LLC increased its stake in shares of Bristol Myers Squibb by 15.1% during the fourth quarter. Continuum Advisory LLC now owns 1,733 shares of the biopharmaceutical company's stock worth $98,000 after purchasing an additional 227 shares during the period. Finally, Novem Group acquired a new position in Bristol Myers Squibb in the 4th quarter valued at $205,000. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business's stock in a transaction dated 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 directly owned 167,379 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Bristol Myers Squibb Trading Down 1.2%

Shares of BMY traded down $0.55 during mid-day trading on Friday, reaching $45.05. 28,352,566 shares of the company were exchanged, compared to its average volume of 10,775,277. The business has a 50 day simple moving average of $46.93 and a two-hundred day simple moving average of $49.58. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The stock has a market capitalization of $91.70 billion, a PE ratio of 18.17, a PEG ratio of 2.30 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (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 analysts' expectations of $11.32 billion. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Bristol Myers Squibb'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. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. 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 research report on Friday, August 1st. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Finally, Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.38.

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.