Plato Investment Management Ltd Cuts Stake in Bristol Myers Squibb Company $BMY

Plato Investment Management Ltd decreased its position in Bristol Myers Squibb Company (NYSE:BMY) by 35.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,605 shares of the biopharmaceutical company’s stock after selling 43,619 shares during the period. Plato Investment Management Ltd’s holdings in Bristol Myers Squibb were worth $4,846,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in 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 worth $1,447,198,000 after buying an additional 17,750,938 shares during the period. GQG Partners LLC grew its holdings in shares of Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after acquiring an additional 11,970,598 shares during the period. Nuveen LLC purchased a new position in Bristol Myers Squibb in the 1st quarter valued at approximately $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Bristol Myers Squibb by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company’s stock worth $1,259,690,000 after purchasing an additional 3,196,919 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Bristol Myers Squibb by 7,142.8% during the first 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 in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

BMY stock opened at $47.25 on Wednesday. The stock has a market capitalization of $96.17 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 2.39 and a beta of 0.35. 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 Company has a 52-week low of $42.96 and a 52-week high of $63.33. The stock’s fifty day simple moving average is $47.09 and its 200-day simple moving average is $50.36.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for 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 firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.2%. Bristol Myers Squibb’s dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BMY shares. 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. Citigroup reduced their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.38.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction 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 transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate 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.