Te Ahumairangi Investment Management Ltd Boosts Stake in Bristol Myers Squibb Company $BMY

Te Ahumairangi Investment Management Ltd lifted its position in Bristol Myers Squibb Company (NYSE:BMY) by 42.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,227 shares of the biopharmaceutical company’s stock after acquiring an additional 24,730 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Bristol Myers Squibb were worth $3,853,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position 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 buying an additional 17,750,938 shares during the period. GQG Partners LLC increased 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 acquiring an additional 11,970,598 shares in the last quarter. Nuveen LLC purchased a new position in Bristol Myers Squibb during the 1st quarter valued at about $624,369,000. Charles Schwab Investment Management Inc. boosted its stake in Bristol Myers Squibb by 16.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Bristol Myers Squibb by 142.8% in the second quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock worth $390,541,000 after purchasing an additional 4,961,869 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 2.7%

BMY stock opened at $49.05 on Wednesday. The stock has a market capitalization of $99.84 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.23 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 $42.52 and a 1-year high of $63.33. The business has a fifty day moving average price of $45.37 and a 200-day moving average price of $46.58.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $1.80 earnings per share. Bristol Myers Squibb’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. Equities 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 business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is 83.78%.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 completion of the sale, the executive vice president 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several recent research reports. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Scotiabank initiated coverage on Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 target price on the stock. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.42.

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.