1832 Asset Management L.P. Purchases Shares of 91,645 Bristol Myers Squibb Company $BMY

1832 Asset Management L.P. purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, HoldingsChannel reports. The firm purchased 91,645 shares of the biopharmaceutical company’s stock, valued at approximately $4,242,000.

A number of other large investors also recently modified their holdings of BMY. Trifecta Capital Advisors LLC bought a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. REAP Financial Group LLC lifted its position in Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 428 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the first quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of Bristol Myers Squibb by 51.9% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMY. The Goldman Sachs Group reissued a “neutral” rating and issued a $57.00 price objective (up previously from $51.00) on shares of Bristol Myers Squibb in a research note on Tuesday. Scotiabank restated a “sector perform” rating and issued a $53.00 target price (up from $45.00) on shares of Bristol Myers Squibb in a research note on Thursday. Citigroup dropped their price objective on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, November 24th. Finally, Truist Financial set a $65.00 target price on Bristol Myers Squibb in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.25.

Bristol Myers Squibb Stock Up 0.4%

Shares of Bristol Myers Squibb stock opened at $52.16 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The company has a market cap of $106.18 billion, a P/E ratio of 17.62, a PEG ratio of 7.95 and a beta of 0.29. The firm’s 50 day moving average price is $46.21 and its 200-day moving average price is $46.78. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 83.78%.

About Bristol Myers Squibb

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.