Bristol Myers Squibb Company $BMY Stock Position Reduced by MKT Advisors LLC

MKT Advisors LLC decreased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,265 shares of the biopharmaceutical company’s stock after selling 716 shares during the quarter. MKT Advisors LLC’s holdings in Bristol Myers Squibb were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New England Asset Management Inc. increased its holdings in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after acquiring an additional 305 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after purchasing an additional 13,959 shares during the period. Sage Capital Advisors llc raised its stake in shares of Bristol Myers Squibb by 60.7% in the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after buying an additional 32,181 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $843,000. Finally, Avaii Wealth Management LLC increased its stake in Bristol Myers Squibb by 590.9% in the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after acquiring an additional 67,221 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Citigroup lowered their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. 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 for the company. in a report on Tuesday, August 5th. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

BMY stock opened at $43.45 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. 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 $88.44 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.26 and a beta of 0.35. The business’s fifty day moving average is $46.70 and its 200-day moving average is $49.27.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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 business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. Bristol Myers Squibb’s payout ratio is 100.00%.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate 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.