Verdence Capital Advisors LLC Cuts Stake in Bristol Myers Squibb Company $BMY

Verdence Capital Advisors LLC reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 50.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 30,239 shares of the biopharmaceutical company’s stock after selling 30,642 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after purchasing an additional 1,458,488 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after purchasing an additional 306,430 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Bristol Myers Squibb by 8.6% during 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 last quarter. Northern Trust Corp lifted its holdings in Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock valued at $1,584,185,000 after purchasing an additional 1,316,144 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Bristol Myers Squibb Trading Down 0.9%

Shares of BMY opened at $43.55 on Tuesday. The firm’s 50 day simple moving average is $46.22 and its 200 day simple moving average is $47.84. The company has a market capitalization of $88.63 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.26 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued 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. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the business earned $2.07 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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 given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

Several equities research analysts have commented on BMY shares. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Finally, Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. One investment 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 stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and a consensus price target 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.