Tyche Wealth Partners LLC Sells 703 Shares of Bristol Myers Squibb Company $BMY

Tyche Wealth Partners LLC trimmed its position in Bristol Myers Squibb Company (NYSE:BMY) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,618 shares of the biopharmaceutical company’s stock after selling 703 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Bristol Myers Squibb were worth $260,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BMY. Brighton Jones LLC increased its holdings in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Wedmont Private Capital grew its position in Bristol Myers Squibb by 8.3% in the first quarter. Wedmont Private Capital now owns 11,362 shares of the biopharmaceutical company’s stock worth $693,000 after acquiring an additional 875 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Bristol Myers Squibb by 6.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,303 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 328 shares in the last quarter. Park Avenue Securities LLC grew its position in Bristol Myers Squibb by 17.6% in the first quarter. Park Avenue Securities LLC now owns 66,779 shares of the biopharmaceutical company’s stock worth $4,073,000 after acquiring an additional 9,973 shares in the last quarter. Finally, Courier Capital LLC grew its position in Bristol Myers Squibb by 3.8% in the first quarter. Courier Capital LLC now owns 39,909 shares of the biopharmaceutical company’s stock worth $2,434,000 after acquiring an additional 1,470 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

BMY has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research report on Saturday, September 27th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Daiwa Capital Markets lowered Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, August 5th. Finally, Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.14.

Bristol Myers Squibb Stock Down 1.1%

Shares of NYSE BMY opened at $44.63 on Wednesday. The firm has a market capitalization of $90.84 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.31 and a beta of 0.33. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a 50 day moving average price of $46.27 and a 200 day moving average price of $48.36.

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

Bristol Myers Squibb Announces Dividend

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

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of the business’s 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 transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. The trade was a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by company 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.