Summit X LLC Sells 1,267 Shares of Bristol Myers Squibb Company $BMY

Summit X LLC trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 36,246 shares of the biopharmaceutical company’s stock after selling 1,267 shares during the period. Summit X LLC’s holdings in Bristol Myers Squibb were worth $1,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Wellington Management Group LLP boosted its holdings in Bristol Myers Squibb by 297.0% in 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 purchasing an additional 17,750,938 shares during the last quarter. GQG Partners LLC boosted its stake in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the last quarter. Nuveen LLC bought a new stake in shares of Bristol Myers Squibb in the first quarter worth $624,369,000. Kingstone Capital Partners Texas LLC purchased a new stake in Bristol Myers Squibb during the second quarter valued at $98,898,000. Finally, Goldman Sachs Group Inc. boosted its position in Bristol Myers Squibb by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 14,051,319 shares of the biopharmaceutical company’s stock worth $856,990,000 after purchasing an additional 2,117,249 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Bristol Myers Squibb

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 insiders.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $46.74 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. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The stock’s 50-day simple moving average is $45.25 and its 200-day simple moving average is $46.69. The company has a market capitalization of $95.14 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the firm earned $1.80 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BMY shares. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. One 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.23.

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.