Baker Ellis Asset Management LLC Cuts Holdings in Bristol Myers Squibb Company $BMY

Baker Ellis Asset Management LLC lowered its stake in Bristol Myers Squibb Company (NYSE:BMY) by 8.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,230 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Baker Ellis Asset Management LLC’s holdings in Bristol Myers Squibb were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb in the fourth quarter worth about $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb in the fourth quarter worth about $26,000. Global Wealth Strategies & Associates grew its position in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb in the first quarter worth about $31,000. Finally, Accent Capital Management LLC bought a new stake in Bristol Myers Squibb in the first quarter worth about $33,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BMY. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Finally, Citigroup cut their price objective on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.38.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $46.34 on Tuesday. The firm has a market capitalization of $94.32 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company’s fifty day moving average price is $47.07 and its 200-day moving average price is $49.98.

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

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.