Advocate Group LLC Grows Stake in Bristol Myers Squibb Company $BMY

Advocate Group LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 4.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 154,239 shares of the biopharmaceutical company’s stock after purchasing an additional 7,088 shares during the period. Advocate Group LLC’s holdings in Bristol Myers Squibb were worth $7,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. Trifecta Capital Advisors LLC purchased a new position in shares of Bristol Myers Squibb in the 2nd quarter worth $25,000. REAP Financial Group LLC boosted its stake in shares of Bristol Myers Squibb by 202.8% in the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 428 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol Myers Squibb in the 1st quarter worth $31,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb in the 1st quarter worth $33,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 231 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the executive vice president directly owned 167,379 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Price 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 business’s 50-day simple moving average is $46.26 and its two-hundred day simple moving average is $48.03. The stock has a market cap of $89.57 billion, a PE ratio of 17.74, a P/E/G ratio of 2.25 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 posted its quarterly 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 business had revenue of $12.27 billion for 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 business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Citigroup decreased their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.14.

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.