Curbstone Financial Management Corp Cuts Holdings in Bristol Myers Squibb Company $BMY

Curbstone Financial Management Corp lowered its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,934 shares of the biopharmaceutical company’s stock after selling 3,012 shares during the quarter. Curbstone Financial Management Corp’s holdings in Bristol Myers Squibb were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Citigroup reissued a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $57.23.

Insider Buying and Selling

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 completion of the transaction, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Up 0.5%

Shares of BMY stock opened at $43.63 on Friday. The company has a market capitalization of $88.80 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.25 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. The company’s fifty day moving average price is $46.07 and its 200-day moving average price is $47.55. Bristol Myers Squibb Company has a one year low of $42.96 and a one year 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. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Bristol Myers Squibb Company 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.