Zurich Insurance Group Ltd FI Lowers Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in Bristol Myers Squibb Company by 11.2%, owning 428,668 shares valued at approximately $26.1 million after selling 53,936 shares.
• Bristol Myers Squibb's recent quarterly earnings report showed $1.46 EPS, exceeding analyst expectations, with revenue of $12.27 billion for the quarter.
• The company's quarterly dividend of $0.62 per share was recently paid, representing a 5.3% yield with a payout ratio of 100%.

Zurich Insurance Group Ltd FI lessened its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 428,668 shares of the biopharmaceutical company's stock after selling 53,936 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Bristol Myers Squibb were worth $26,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb in the 4th quarter worth about $26,000. Global Wealth Strategies & Associates raised its holdings in Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the 1st quarter worth about $31,000. Finally, Accent Capital Management LLC acquired a new position in Bristol Myers Squibb in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock traded down $1.32 during mid-day trading on Friday, reaching $46.22. 11,892,193 shares of the stock traded hands, compared to its average volume of 9,112,865. The business has a 50-day moving average of $47.08 and a 200 day moving average of $50.07. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market capitalization of $94.08 billion, a PE ratio of 18.64, a PEG ratio of 2.36 and a beta of 0.35. 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 (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 earnings per share. 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 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared 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 was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Analysts Set New Price Targets

BMY has been the subject of a number of analyst reports. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Citigroup reduced their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.38.

Insider Activity

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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $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 is available at this link. 0.09% of the stock is owned by company insiders.

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.