Te Ahumairangi Investment Management Ltd Sells 14,647 Shares of Bristol Myers Squibb Company $BMY

Te Ahumairangi Investment Management Ltd cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,497 shares of the biopharmaceutical company’s stock after selling 14,647 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Bristol Myers Squibb were worth $3,568,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Bristol Myers Squibb during the 4th quarter worth $13,094,000. Voleon Capital Management LP acquired a new position in Bristol Myers Squibb during the 4th quarter worth $2,110,000. Talon Private Wealth LLC acquired a new position in Bristol Myers Squibb during the 4th quarter worth $312,000. Finally, Rehmann Capital Advisory Group lifted its holdings in Bristol Myers Squibb by 10.6% during the 4th quarter. Rehmann Capital Advisory Group now owns 30,503 shares of the biopharmaceutical company’s stock worth $1,726,000 after buying an additional 2,933 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY stock opened at $46.89 on Friday. The business’s fifty day moving average is $47.04 and its 200-day moving average is $50.84. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market cap of $95.43 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.44 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the business 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 forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors 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 5.3%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

BMY has been the topic of several research reports. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Finally, Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently 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.