Panagora Asset Management Inc. Sells 284,931 Shares of Bristol Myers Squibb Company $BMY

Panagora Asset Management Inc. lowered its stake in Bristol Myers Squibb Company (NYSE:BMY) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,492,859 shares of the biopharmaceutical company’s stock after selling 284,931 shares during the quarter. Panagora Asset Management Inc. owned about 0.12% of Bristol Myers Squibb worth $115,394,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BMY. Exchange Capital Management Inc. lifted its stake in shares of Bristol Myers Squibb by 0.4% during the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock worth $2,541,000 after acquiring an additional 220 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after acquiring an additional 224 shares in the last quarter. Richwood Investment Advisors LLC boosted its holdings in shares of Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after purchasing an additional 225 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in Bristol Myers Squibb by 26.7% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,123 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 237 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BMY shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Scotiabank assumed coverage on shares of Bristol Myers Squibb in a research note on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 price objective for the company. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus price target of $54.42.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $49.18 on Monday. The company has a 50 day moving average of $45.59 and a two-hundred day moving average of $46.65. 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 twelve month low of $42.52 and a twelve month high of $63.33. The company has a market cap of $100.11 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last issued 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 firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue for the quarter 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 predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were paid 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 dividend yield of 5.0%. Bristol Myers Squibb’s payout ratio is presently 83.78%.

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.