Bristol Myers Squibb Company $BMY Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 499,533 shares of the biopharmaceutical company’s stock after selling 4,616 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bristol Myers Squibb were worth $23,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after buying an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its holdings in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after buying an additional 11,970,598 shares during the period. Nuveen LLC purchased a new stake in Bristol Myers Squibb in the 1st quarter valued at about $624,369,000. Kingstone Capital Partners Texas LLC purchased a new stake in Bristol Myers Squibb in the 2nd quarter valued at about $98,898,000. Finally, Bank of New York Mellon Corp raised its holdings in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BMY shares. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.23.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY opened at $43.84 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $89.24 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.29 and a beta of 0.33. The stock’s 50-day simple moving average is $45.75 and its 200-day simple moving average is $47.10.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the company earned $2.07 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.7%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.