Geode Capital Management LLC Increases Stock Position in Bristol Myers Squibb Company $BMY

Geode Capital Management LLC increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 1.6% in the 2nd quarter, Holdings Channel reports. The firm owned 46,176,690 shares of the biopharmaceutical company’s stock after buying an additional 723,459 shares during the period. Geode Capital Management LLC’s holdings in Bristol Myers Squibb were worth $2,132,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Wellington Management Group LLP lifted its holdings in shares of Bristol Myers Squibb by 297.0% during the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC boosted its position in Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the last quarter. Nuveen LLC bought a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $624,369,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at about $98,898,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Bristol Myers Squibb by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,051,319 shares of the biopharmaceutical company’s stock worth $856,990,000 after purchasing an additional 2,117,249 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average price target of $55.45.

Bristol Myers Squibb Trading Up 3.0%

BMY stock opened at $48.70 on Wednesday. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The business has a 50 day simple moving average of $45.28 and a two-hundred day simple moving average of $46.68. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $99.14 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted 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 company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is presently 83.78%.

Insider Transactions at Bristol Myers Squibb

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 stock was 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. This represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

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.