Louisiana State Employees Retirement System Sells 1,700 Shares of Bristol Myers Squibb Company $BMY

Louisiana State Employees Retirement System reduced its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,400 shares of the biopharmaceutical company’s stock after selling 1,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bristol Myers Squibb were worth $4,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Wellington Management Group LLP increased its stake in 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 worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. GQG Partners LLC increased its position in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the last quarter. Nuveen LLC bought a new position in shares of Bristol Myers Squibb during the 1st quarter valued at about $624,369,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at about $98,898,000. Finally, Bank of New York Mellon Corp increased its position in shares of Bristol Myers Squibb by 8.6% during the 1st 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 last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BMY. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.14.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Down 0.2%

BMY opened at $44.55 on Thursday. The stock has a market cap of $90.68 billion, a PE ratio of 17.96, a PEG ratio of 2.29 and a beta of 0.33. 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 business has a 50 day moving average of $46.24 and a 200-day moving average of $48.33. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb’s payout ratio is presently 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.