Marco Investment Management LLC Cuts Holdings in Bristol Myers Squibb Company $BMY

Marco Investment Management LLC cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,451 shares of the biopharmaceutical company’s stock after selling 1,287 shares during the period. Marco Investment Management LLC’s holdings in Bristol Myers Squibb were worth $1,363,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMY. New England Asset Management Inc. grew its stake in Bristol Myers Squibb by 0.8% in the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock valued at $2,408,000 after acquiring an additional 305 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Bristol Myers Squibb by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Commonwealth Retirement Investments LLC grew its position in shares of Bristol Myers Squibb by 24.6% in the second quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after purchasing an additional 11,690 shares during the period. Sage Capital Advisors llc raised its position in shares of Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after purchasing an additional 32,181 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its stake in Bristol Myers Squibb by 458.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 44,559 shares of the biopharmaceutical company’s stock valued at $2,088,000 after buying an additional 36,576 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BMY. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Citigroup reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. 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. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.23.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Bristol Myers Squibb Stock Up 0.2%

Shares of NYSE:BMY opened at $46.74 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The business has a fifty day moving average of $45.25 and a two-hundred day moving average of $46.72. The stock has a market cap of $95.14 billion, a P/E ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.52 by $0.11. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, research 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 announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 83.78%.

About Bristol Myers Squibb

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.