Bruce G. Allen Investments LLC Cuts Position in Bristol Myers Squibb Company $BMY

Bruce G. Allen Investments LLC lowered its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,172 shares of the biopharmaceutical company’s stock after selling 261 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Bristol Myers Squibb were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% during 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 last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb in the 1st quarter valued at about $31,000. Finally, Accent Capital Management LLC acquired a new stake in Bristol Myers Squibb in the 1st quarter worth about $33,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. Citigroup reduced their target price 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. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. 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. Finally, Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.38.

Bristol Myers Squibb Stock Down 0.1%

Bristol Myers Squibb stock opened at $46.30 on Wednesday. The stock’s 50 day moving average price is $47.06 and its 200 day moving average price is $49.95. The company has a market cap of $94.24 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.37 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released 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. 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 during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the company earned $2.07 earnings per share. Bristol Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s 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 transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

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.