Naviter Wealth LLC Has $278,000 Stake in Bristol Myers Squibb Company $BMY

Naviter Wealth LLC decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 4.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,014 shares of the biopharmaceutical company’s stock after selling 301 shares during the quarter. Naviter Wealth LLC’s holdings in Bristol Myers Squibb were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BMY. Wellington Management Group LLP raised its position in shares of 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 worth $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. GQG Partners LLC grew its stake in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the period. Nuveen LLC acquired a new stake in shares of Bristol Myers Squibb during the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Bristol Myers Squibb during the second quarter worth $98,898,000. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 worth $1,638,501,000 after purchasing an additional 2,131,205 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday. One investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.14.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Stock Performance

BMY opened at $43.82 on Wednesday. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The firm has a market capitalization of $89.18 billion, a PE ratio of 17.67, a PEG ratio of 2.25 and a beta of 0.33. 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 $46.18 and its 200 day simple moving average is $47.81.

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, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 5.7%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

About Bristol Myers Squibb

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.