Bristol Myers Squibb Company $BMY Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,350 shares of the biopharmaceutical company’s stock after selling 17,200 shares during the quarter. Gabelli Funds LLC’s holdings in Bristol Myers Squibb were worth $13,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Bristol Myers Squibb by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock worth $9,023,088,000 after purchasing an additional 3,522,202 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bristol Myers Squibb by 16.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after acquiring an additional 10,195,775 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bristol Myers Squibb by 1.6% in the second quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock valued at $2,132,976,000 after acquiring an additional 723,459 shares in the last quarter. Norges Bank acquired a new stake in shares of Bristol Myers Squibb during the second quarter valued at $1,554,154,000. Finally, Northern Trust Corp increased its position in Bristol Myers Squibb by 5.3% during the 1st quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after purchasing an additional 1,316,144 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of several analyst reports. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Finally, Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a research report on Wednesday, December 3rd. Four 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, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average target price of $55.25.

Bristol Myers Squibb Stock Down 0.9%

Shares of NYSE BMY opened at $51.69 on Tuesday. The stock has a market capitalization of $105.23 billion, a PE ratio of 17.46, a P/E/G ratio of 7.98 and a beta of 0.29. 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 firm has a fifty day moving average of $46.36 and a 200-day moving average of $46.81. 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 issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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

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.