Penn Davis Mcfarland Inc. Cuts Holdings in Bristol Myers Squibb Company $BMY

Penn Davis Mcfarland Inc. decreased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,610 shares of the biopharmaceutical company’s stock after selling 1,173 shares during the period. Bristol Myers Squibb comprises about 1.9% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 19th biggest position. Penn Davis Mcfarland Inc.’s holdings in Bristol Myers Squibb were worth $16,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 buying an additional 17,750,938 shares during the last quarter. GQG Partners LLC boosted its holdings in Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after acquiring an additional 11,970,598 shares during the period. Nuveen LLC bought a new position in Bristol Myers Squibb during the 1st quarter worth approximately $624,369,000. GAMMA Investing LLC increased its stake in Bristol Myers Squibb by 7,142.8% in the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company’s stock worth $147,619,000 after purchasing an additional 2,386,970 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Bristol Myers Squibb in the second quarter valued at approximately $98,898,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Daiwa Capital Markets cut shares of 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. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. 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. Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Price Performance

BMY stock opened at $44.20 on Thursday. The firm has a 50-day moving average of $46.79 and a 200 day moving average of $49.40. 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 cap of $89.96 billion, a P/E ratio of 17.82, a PEG ratio of 2.30 and a beta of 0.35. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced 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 during the quarter, compared to analyst estimates 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 revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 100.00%.

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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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.