Legal & General Group Plc Sells 707,829 Shares of Bristol Myers Squibb Company $BMY

Legal & General Group Plc reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,758,544 shares of the biopharmaceutical company’s stock after selling 707,829 shares during the quarter. Legal & General Group Plc owned approximately 0.77% of Bristol Myers Squibb worth $729,463,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC bought a new position in Bristol Myers Squibb in the 2nd quarter worth about $25,000. Accent Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC grew its stake in Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 231 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in Bristol Myers Squibb during the 1st quarter worth $36,000. Finally, REAP Financial Group LLC raised its position in Bristol Myers Squibb by 202.8% during the 2nd quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Scotiabank began coverage on shares of Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 price target for the company. Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and an average target price of $54.42.

Insider Activity at Bristol Myers Squibb

In related 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 completion of the sale, the executive vice president directly owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $45.91 on Friday. The firm’s fifty day simple moving average is $45.28 and its two-hundred day simple moving average is $46.60. The firm has a market capitalization of $93.46 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.23 and a beta of 0.33. 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 Company has a 12-month low of $42.52 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share 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 firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter last year, the firm earned $1.80 EPS. The business’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. Analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio is 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.