Bristol Myers Squibb Company $BMY Position Lessened by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 41.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 31,539 shares of the biopharmaceutical company’s stock after selling 22,573 shares during the period. Valeo Financial Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in Bristol Myers Squibb in the second quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at $25,000. 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 worth $30,000 after purchasing an additional 428 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in 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 worth $35,000 after buying an additional 231 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in Bristol Myers Squibb during the first quarter valued at about $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMY. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. HSBC reaffirmed a “hold” rating and set a $53.00 target price on shares of Bristol Myers Squibb in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Bank of America raised shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $61.00 in a report on Monday. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average price target of $54.62.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY opened at $54.27 on Wednesday. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33. The firm has a market capitalization of $110.47 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 8.31 and a beta of 0.29. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $47.17 and a 200 day simple moving average of $47.02.

Bristol Myers Squibb (NYSE:BMY) last issued its 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 business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is currently 83.78%.

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.