M&G PLC Decreases Holdings in Bristol Myers Squibb Company $BMY

M&G PLC cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,788,125 shares of the biopharmaceutical company’s stock after selling 68,014 shares during the quarter. Bristol Myers Squibb comprises about 1.7% of M&G PLC’s investment portfolio, making the stock its 11th biggest position. M&G PLC’s holdings in Bristol Myers Squibb were worth $312,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Vanguard Group Inc. raised its holdings in shares of Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock valued at $11,673,669,000 after buying an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Bristol Myers Squibb by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Northern Trust Corp boosted its position in Bristol Myers Squibb by 5.3% in the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock valued at $1,584,185,000 after buying an additional 1,316,144 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of Bristol Myers Squibb by 0.9% in the first quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company’s stock worth $1,400,979,000 after acquiring an additional 197,453 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMY shares. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Four 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, the stock presently has a consensus rating of “Hold” and an average price target of $55.45.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $48.70 on Wednesday. The company has a market cap of $99.14 billion, a PE ratio of 19.64, a P/E/G ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The firm has a 50-day simple moving average of $45.28 and a 200 day simple moving average of $46.68. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating the consensus estimate 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 company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared 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 of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.1%. Bristol Myers Squibb’s 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.