Pitcairn Co. Trims Position in Bristol Myers Squibb Company $BMY

Pitcairn Co. lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 46.4% in the second quarter, Holdings Channel.com reports. The fund owned 30,244 shares of the biopharmaceutical company’s stock after selling 26,174 shares during the period. Pitcairn Co.’s holdings in Bristol Myers Squibb were worth $1,400,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Bristol Myers Squibb by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 92,231 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 9,477 shares in the last quarter. Kestra Investment Management LLC increased its position in shares of Bristol Myers Squibb by 43.7% during the second quarter. Kestra Investment Management LLC now owns 15,109 shares of the biopharmaceutical company’s stock valued at $699,000 after buying an additional 4,598 shares during the period. Rexford Capital Inc. bought a new position in Bristol Myers Squibb in the second quarter worth about $298,000. National Bank of Canada FI lifted its holdings in Bristol Myers Squibb by 71.2% in the second quarter. National Bank of Canada FI now owns 2,069,698 shares of the biopharmaceutical company’s stock worth $95,804,000 after buying an additional 860,464 shares during the period. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its position in Bristol Myers Squibb by 20.0% during the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 6,000 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $52.38 on Monday. The company has a market capitalization of $106.63 billion, a PE ratio of 17.69, a PEG ratio of 8.02 and a beta of 0.29. The business has a fifty day moving average price of $46.80 and a 200-day moving average price of $46.93. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17.

Bristol Myers Squibb (NYSE:BMY) last announced 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. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. Bristol Myers Squibb’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. 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 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 83.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BMY. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price objective on Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. HSBC reissued a “hold” rating and set a $53.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.08.

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.