Bristol Myers Squibb Company $BMY Shares Sold by Fourpath Capital Management LLC

Fourpath Capital Management LLC cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 73.3% during the 2nd quarter, Holdings Channel reports. The firm owned 5,958 shares of the biopharmaceutical company’s stock after selling 16,373 shares during the period. Fourpath Capital Management LLC’s holdings in Bristol Myers Squibb were worth $276,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMY. Beacon Investment Advisory Services Inc. lifted its stake in shares of Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 212 shares during the period. Exchange Capital Management Inc. lifted its stake in shares of Bristol Myers Squibb by 0.4% during the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after buying an additional 220 shares during the period. 1858 Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 221 shares during the period. Parsons Capital Management Inc. RI lifted its stake in shares of Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after buying an additional 224 shares during the period. Finally, Richwood Investment Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 1.7% during the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 225 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were 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 owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on BMY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Saturday, September 27th. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Daiwa Capital Markets downgraded shares of 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. Citigroup cut their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $57.14.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $44.01 on Friday. 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 $89.57 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.29 and a beta of 0.33. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm’s 50 day moving average is $46.26 and its two-hundred day moving average is $48.11.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be given 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 5.6%. Bristol Myers Squibb’s dividend 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.