Smith Moore & CO. Decreases Stake in Bristol Myers Squibb Company $BMY

Smith Moore & CO. lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,189 shares of the biopharmaceutical company’s stock after selling 1,262 shares during the quarter. Smith Moore & CO.’s holdings in Bristol Myers Squibb were worth $1,166,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bristol Myers Squibb by 1.8% in the second quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock valued at $9,023,088,000 after purchasing an additional 3,522,202 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 valued at $3,277,456,000 after purchasing an additional 10,195,775 shares during the last quarter. Geode Capital Management LLC lifted its position in Bristol Myers Squibb by 1.6% during the second quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock valued at $2,132,976,000 after purchasing an additional 723,459 shares during the last quarter. Norges Bank purchased a new position in shares of Bristol Myers Squibb in the 2nd quarter worth $1,554,154,000. Finally, Northern Trust Corp increased its holdings in shares of Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after buying an additional 1,316,144 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $49.14 on Tuesday. The company has a market capitalization of $100.04 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The stock’s fifty day moving average is $45.67 and its two-hundred day moving average is $46.67. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. 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 (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. Bristol Myers Squibb’s quarterly revenue 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, analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 83.78%.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. Citigroup dropped their price target on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Scotiabank began coverage on Bristol Myers Squibb in a report on Thursday, November 13th. They set a “sector perform” rating and a $45.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.42.

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.