Brandywine Global Investment Management LLC Sells 633,786 Shares of Bristol Myers Squibb Company $BMY

Brandywine Global Investment Management LLC decreased its position in Bristol Myers Squibb Company (NYSE:BMY) by 65.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 334,733 shares of the biopharmaceutical company’s stock after selling 633,786 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Bristol Myers Squibb were worth $15,495,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BMY. Trifecta Capital Advisors LLC bought a new position in Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. Accent Capital Management LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Bristol Myers Squibb in the first quarter worth $36,000. Finally, REAP Financial Group LLC boosted its holdings in Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 428 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMY. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Finally, Citigroup dropped their price target on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 17th. 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 has an average rating of “Hold” and a consensus price target of $54.42.

Insider Activity

In other news, EVP David V. Elkins sold 56,000 shares of the company’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 value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Up 0.6%

Bristol Myers Squibb stock opened at $46.22 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $63.33. The company has a market capitalization of $94.09 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. The business’s fifty day simple moving average is $45.28 and its two-hundred day simple moving average is $46.57. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.4%. Bristol Myers Squibb’s payout ratio is 83.78%.

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.