Bristol Myers Squibb Company $BMY Shares Sold by Farmers Trust Co.

Farmers Trust Co. reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 25.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,831 shares of the biopharmaceutical company’s stock after selling 1,983 shares during the period. Farmers Trust Co.’s holdings in Bristol Myers Squibb were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after acquiring an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in Bristol Myers Squibb in the 4th quarter valued at about $13,094,000. Heck Capital Advisors LLC bought a new position in Bristol Myers Squibb in the 4th quarter worth about $188,000. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Bristol Myers Squibb by 8.4% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 4,514 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 349 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $99,778,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This trade 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. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BMY shares. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Citigroup cut 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 note on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $44.84 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm’s 50 day moving average is $46.85 and its 200-day moving average is $49.44. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a market capitalization of $91.26 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.30 and a beta of 0.35.

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 the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

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.