Wealthedge Investment Advisors LLC Buys New Holdings in Bristol Myers Squibb Company $BMY

Wealthedge Investment Advisors LLC purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 96,686 shares of the biopharmaceutical company’s stock, valued at approximately $4,476,000. Bristol Myers Squibb accounts for 1.9% of Wealthedge Investment Advisors LLC’s holdings, making the stock its 15th biggest position.

A number of other institutional investors also recently modified their holdings of the company. Trifecta Capital Advisors LLC bought a new stake in Bristol Myers Squibb during the 2nd quarter valued at $25,000. REAP Financial Group LLC grew its holdings in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 428 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Bristol Myers Squibb during the first quarter worth about $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 acquiring an additional 231 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in Bristol Myers Squibb in the 1st quarter valued at about $36,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMY shares. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Scotiabank started coverage on shares of Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 target price for the company. Finally, Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $54.42.

Bristol Myers Squibb Stock Down 0.2%

BMY opened at $49.18 on Monday. The company’s 50-day moving average price is $45.59 and its two-hundred day moving average price is $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 stock has a market cap of $100.11 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted 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 business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.0%. Bristol Myers Squibb’s dividend payout ratio (DPR) 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 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 sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

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.