Norges Bank Makes New $1.55 Billion Investment in Bristol Myers Squibb Company $BMY

Norges Bank purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 33,574,290 shares of the biopharmaceutical company’s stock, valued at approximately $1,554,154,000.

Several other institutional investors have also added to or reduced their stakes in the company. New England Asset Management Inc. boosted its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after acquiring an additional 305 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after buying an additional 11,690 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Bristol Myers Squibb by 438.0% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after acquiring an additional 250,624 shares in the last quarter. Finally, Wealth Quarterback LLC raised its stake in shares of Bristol Myers Squibb by 42.6% during the second quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock valued at $1,178,000 after acquiring an additional 7,603 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Finally, Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.42.

Bristol Myers Squibb Stock Up 0.6%

Shares of Bristol Myers Squibb stock opened at $49.33 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. The company has a market cap of $100.43 billion, a P/E ratio of 19.89, a PEG ratio of 2.23 and a beta of 0.33. The firm’s 50 day moving average price is $45.51 and its 200-day moving average price is $46.62. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the firm earned $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. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 83.78%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the 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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

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.