XML Financial LLC Sells 9,864 Shares of Bristol Myers Squibb Company $BMY

Key Points

• XML Financial LLC has reduced its stake in Bristol Myers Squibb by 13.6%, selling 9,864 shares and holding 62,587 shares valued at $2,897,000 as of its latest SEC filing.
• Despite recent sales, Bristol Myers Squibb's earnings report for the second quarter topped expectations, with earnings per share at $1.46 compared to estimates of $1.07 and revenues of $12.27 billion.
• Analysts have lowered price targets for Bristol Myers Squibb, with a consensus price target of $56.38 and the company currently holding a consensus rating of "Hold".

XML Financial LLC trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,587 shares of the biopharmaceutical company's stock after selling 9,864 shares during the quarter. XML Financial LLC's holdings in Bristol Myers Squibb were worth $2,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. New England Asset Management Inc. raised its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company's stock valued at $2,408,000 after buying an additional 305 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company's stock valued at $78,580,000 after acquiring an additional 13,959 shares during the period. Sage Capital Advisors llc raised its stake in shares of Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company's stock valued at $3,946,000 after acquiring an additional 32,181 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Bristol Myers Squibb during the first quarter worth about $843,000. Finally, Avaii Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after purchasing an additional 67,221 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on BMY shares. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Citigroup reduced their price objective on shares of 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. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $44.12 on Tuesday. The company has a 50 day simple moving average of $46.58 and a two-hundred day simple moving average of $48.89. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.26 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 posted its quarterly 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. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

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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