Bristol Myers Squibb Company $BMY Position Lessened by Empowered Funds LLC

Empowered Funds LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 25.9% in the second quarter, HoldingsChannel reports. The firm owned 216,147 shares of the biopharmaceutical company’s stock after selling 75,707 shares during the quarter. Empowered Funds LLC’s holdings in Bristol Myers Squibb were worth $10,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. New England Asset Management Inc. increased its position 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 grew its stake in shares of Bristol Myers Squibb by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Commonwealth Retirement Investments LLC increased its holdings in shares of Bristol Myers Squibb by 24.6% during 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 stake in shares of Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after purchasing an additional 32,181 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its holdings in Bristol Myers Squibb by 438.0% in the second quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after purchasing an additional 250,624 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb 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 directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $47.09 on Wednesday. The stock has a market capitalization of $95.86 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.23 and a beta of 0.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business’s fifty day moving average is $45.34 and its two-hundred day moving average is $46.61. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33.

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

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. 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. Citigroup lowered their price objective on shares of Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus price target of $54.42.

Bristol Myers Squibb 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.