Cullinan Associates Inc. Cuts Stock Position in Bristol Myers Squibb Company $BMY

Cullinan Associates Inc. cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,931 shares of the biopharmaceutical company’s stock after selling 3,989 shares during the quarter. Cullinan Associates Inc.’s holdings in Bristol Myers Squibb were worth $3,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Brighton Jones LLC grew its holdings in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Vest Financial LLC grew its holdings in shares of Bristol Myers Squibb by 73.5% in the first quarter. Vest Financial LLC now owns 16,912 shares of the biopharmaceutical company’s stock valued at $1,031,000 after purchasing an additional 7,166 shares in the last quarter. Pines Wealth Management LLC grew its holdings in shares of Bristol Myers Squibb by 8.2% in the first quarter. Pines Wealth Management LLC now owns 4,559 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 345 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Bristol Myers Squibb by 0.4% in the first quarter. Gateway Investment Advisers LLC now owns 111,991 shares of the biopharmaceutical company’s stock worth $6,830,000 after buying an additional 436 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Bristol Myers Squibb by 9.3% in the first quarter. Sivia Capital Partners LLC now owns 4,691 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 399 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 0.7%

NYSE:BMY opened at $45.39 on Monday. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a market cap of $92.38 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The stock has a fifty day simple moving average of $46.36 and a 200-day simple moving average of $48.49. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts anticipate 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 will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on BMY shares. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Citigroup lowered their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus target price of $56.38.

Insider Buying and Selling 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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by 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.