LGT Fund Management Co Ltd. Buys 4,016 Shares of Bristol Myers Squibb Company $BMY

LGT Fund Management Co Ltd. grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 63,104 shares of the biopharmaceutical company’s stock after purchasing an additional 4,016 shares during the period. LGT Fund Management Co Ltd.’s holdings in Bristol Myers Squibb were worth $2,921,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Street Advisors Inc. NC increased its holdings in Bristol Myers Squibb by 32.9% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 472,621 shares of the biopharmaceutical company’s stock worth $21,878,000 after purchasing an additional 117,028 shares in the last quarter. Ascent Group LLC increased its holdings in Bristol Myers Squibb by 0.6% during the 2nd quarter. Ascent Group LLC now owns 53,506 shares of the biopharmaceutical company’s stock worth $2,477,000 after purchasing an additional 316 shares in the last quarter. New Century Financial Group LLC bought a new stake in Bristol Myers Squibb during the 2nd quarter worth approximately $1,161,000. DHJJ Financial Advisors Ltd. increased its holdings in Bristol Myers Squibb by 51.9% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Abundance Wealth Counselors boosted its stake in shares of Bristol Myers Squibb by 3.9% in the 2nd quarter. Abundance Wealth Counselors now owns 36,399 shares of the biopharmaceutical company’s stock worth $1,691,000 after buying an additional 1,360 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BMY. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday. Daiwa America downgraded Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Citigroup cut their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.38.

Insider Activity

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction 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 owned 167,379 shares in the company, valued at $7,922,048.07. This 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 corporate insiders.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $45.39 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The business’s 50 day simple moving average is $46.36 and its 200 day simple moving average is $48.65. The company has a market cap of $92.38 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.34 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

About Bristol Myers Squibb

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.