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Tag: Bristol Myers Squibb

  • Sound Income Strategies LLC Has $120,000 Stock Position in Bristol Myers Squibb Company $BMY

    Sound Income Strategies LLC lowered its stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 59.1% during the second quarter, HoldingsChannel.com reports. The firm owned 2,599 shares of the biopharmaceutical company’s stock after selling 3,751 shares during the period. Sound Income Strategies LLC’s holdings in Bristol Myers Squibb were worth $120,000 at the end of the most recent quarter.

    Other large investors also recently made changes to their positions in the company. New England Asset Management Inc. raised its stake in Bristol Myers Squibb by 0.8% during the 1st quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after buying an additional 305 shares during the period. Commonwealth Equity Services LLC raised its stake in Bristol Myers Squibb by 1.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after buying an additional 13,959 shares during the period. Sage Capital Advisors llc raised its stake in Bristol Myers Squibb by 60.7% during the 2nd quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock worth $3,946,000 after buying an additional 32,181 shares during the period. Ransom Advisory Ltd acquired a new stake in Bristol Myers Squibb during the 1st quarter worth $843,000. Finally, Avaii Wealth Management LLC raised its stake in Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after buying an additional 67,221 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

    Insider Transactions at Bristol Myers Squibb

    In related news, EVP David V. Elkins sold 56,000 shares of the firm’s 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 sale, the executive vice president directly owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

    Analyst Ratings Changes

    Several analysts recently commented on BMY shares. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Citigroup lowered their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.38.

    Check Out Our Latest Stock Analysis on BMY

    Bristol Myers Squibb Price Performance

    Shares of NYSE BMY opened at $45.00 on Wednesday. The stock has a market capitalization of $91.59 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.26 and a beta of 0.35. The business has a 50-day moving average of $46.52 and a 200-day moving average of $48.86. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

    Bristol Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

    Bristol Myers Squibb Dividend Announcement

    The company also recently announced 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. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

    Bristol Myers Squibb Profile

    (Free Report)

    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.

    See Also

    Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY – Free Report).

    Institutional Ownership by Quarter for Bristol Myers Squibb (NYSE:BMY)



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    ABMN Staff

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  • Dow sets a record as Wall Street drifts to the finish of another winning week

    Dow sets a record as Wall Street drifts to the finish of another winning week

    NEW YORK (AP) — U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession.

    The S&P 500 edged down by 0.1% from its all-time high set the day before, its 42nd of the year so far. The Dow Jones Industrial Average rose 137 points, or 0.3%, to set its own record, while the Nasdaq composite slipped 0.4%.

    Treasury yields eased in the bond market after a report showed inflation slowed in August by a bit more than economists expected. It echoed similar numbers from earlier in the month about inflation, but Friday’s report has resonance because it’s the measure that officials at the Federal Reserve prefer to use.

    For more than a year, the Fed had kept its main interest rate at a two-decade high in hopes of slowing the economy enough to drive inflation toward its 2% target. Now that inflation has eased substantially from its peak two summers ago, the Fed has begun cutting rates to ease conditions for the slowing job market and prevent a recession.

    Of course, the risk of a downturn still looms. U.S. employers have slowed their hiring, and the inflation report on Friday also showed growth in U.S. consumer spending in August fell shy of economists’ expectations. That’s important because consumer spending is the main engine of the economy.

    Part of the shortfall may have been because incomes for Americans grew less in August than economists expected. As the Federal Reserve cuts interest rates, Americans will get lower interest payments on their savings accounts and other similar holdings.

    The boost that lower interest rates can give to borrowers, meanwhile, can take longer to come to fruition, “so consumption spending will likely get squeezed,” said Brian Jacobsen, chief economist at Annex Wealth Management.

    More encouraging data arrived later in the morning, when a report said sentiment among U.S. consumers is stronger than economists expected.

    On Wall Street, Costco Wholesale fell 1.8% after delivering weaker revenue in the latest quarter than analysts expected. That was even though its profit topped expectations.

    Another company that depends on people spending money, ski-resort operator Vail Resorts, sank 3.9% after reporting a larger loss for the latest quarter than analysts expected. Scant snowfalls at its Australian resorts hurt its results, and it gave a forecast for profit in its upcoming fiscal year that fell short of forecasts.

    On the winning side of Wall Street, Bristol-Myers Squibb rose 1.6% after receiving U.S. federal approval for its new approach to treat schizophrenia in adults.

    Trump Media & Technology Group climbed 5.5% following the first disclosure of a major investor selling its shares now that a restriction for insiders has lifted.

    A Florida firm owned by former contestants on “The Apprentice” dumped nearly all of its 5.5% ownership stake in TMTG, which owns former president Donald Trump’s Truth Social platform, according to a filing made with U.S. regulators on Thursday..

    Trump has said he does not plan to sell any of his shares, and he owns more than half of the company, but the stock has been shaky amid speculation about whether he may.

    All told, the S&P 500 slipped 7.20 points to 5,738.17, but it still closed out a third straight winning week and its sixth in the last seven. The Dow rose 137.89 to 42,313.00, and the Nasdaq composite lost 70.70 to 18,119.59.

    Markets overseas made bigger moves, as stocks in Shanghai rallied 2.9% to close their best week since 2008. Hong Kong’s Hang Seng jumped 3.6% to cap its best week since 1998.

    They soared following a barrage of announcements through the week from China’s central bank and government in hopes of propping up the world’s second-largest economy. Investors aren’t convinced all the stimulus will ultimately succeed, but they say they’re impressed by the size of it all following earlier piecemeal efforts.

    In the bond market, the yield on the 10-year U.S. Treasury eased to 3.75% from 3.80% late Thursday.

    The two-year Treasury yield, which moves more closely with expectations for what the Fed will do with short-term rates, fell to 3.56% from 3.63%.

    Traders are betting on a 55% probability the Fed will cut the federal funds rate by another half of a percentage point at its next meeting in November, according to data from CME Group. It usually moves rates by just a quarter of a percentage point.

    Associated Press

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  • Bristol Myers to Acquire RayzeBio in Deal Valued at $4.1 Billion

    Bristol Myers to Acquire RayzeBio in Deal Valued at $4.1 Billion

    Bristol Myers Squibb will acquire radiopharmaceutical therapeutics company RayzeBio for $62.50 a share in cash.

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