Bristol Myers Squibb Company $BMY Holdings Lowered by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,515 shares of the biopharmaceutical company’s stock after selling 1,329 shares during the quarter. Logan Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb during the 1st quarter worth about $31,000. Trifecta Capital Advisors LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth approximately $25,000. Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth approximately $33,000. CBIZ Investment Advisory Services LLC raised its holdings 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 purchasing an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth approximately $36,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Finally, Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.23.

Bristol Myers Squibb Stock Down 1.3%

BMY stock opened at $42.82 on Wednesday. Bristol Myers Squibb Company has a 52-week low of $42.75 and a 52-week high of $63.33. The company’s 50 day simple moving average is $45.54 and its 200-day simple moving average is $46.92. 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 firm has a market capitalization of $87.16 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.27 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (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 analyst estimates of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The firm’s 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. As a group, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.