Bank Pictet & Cie Europe AG Reduces Stock Holdings in Bristol Myers Squibb Company $BMY

Bank Pictet & Cie Europe AG cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 87.2% during the second quarter, Holdings Channel.com reports. The firm owned 29,605 shares of the biopharmaceutical company’s stock after selling 201,895 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Bristol Myers Squibb were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter worth $26,000. Global Wealth Strategies & Associates boosted its stake in 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 period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb during the first quarter worth about $31,000. Accent Capital Management LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.6%

Shares of NYSE:BMY opened at $43.45 on Friday. The company has a market cap of $88.44 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.35. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a 50 day simple moving average of $46.70 and a 200 day simple moving average of $49.27.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling at Bristol Myers Squibb

In other 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 completion of the transaction, the executive vice president owned 167,379 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BMY. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Citigroup lowered their target price on shares of 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 lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus 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.