Bristol Myers Squibb Company $BMY Shares Sold by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,289 shares of the biopharmaceutical company’s stock after selling 490 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Bristol Myers Squibb were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Wellington Management Group LLP lifted its holdings in shares of Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC raised its holdings in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the last quarter. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at $98,898,000. Finally, Bank of New York Mellon Corp grew its position in shares of Bristol Myers Squibb by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BMY shares. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Finally, Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $57.14.

Insiders Place Their Bets

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on 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 $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Trading Down 0.2%

Bristol Myers Squibb stock opened at $44.55 on Thursday. 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 business’s 50-day simple moving average is $46.24 and its 200-day simple moving average is $48.33. The firm has a market capitalization of $90.68 billion, a PE ratio of 17.96, a PEG ratio of 2.29 and a beta of 0.33. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same period last 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 forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

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.