Cim Investment Management Inc. Raises Stock Holdings in Bristol Myers Squibb Company $BMY

Cim Investment Management Inc. boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 99.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,271 shares of the biopharmaceutical company’s stock after buying an additional 14,611 shares during the quarter. Cim Investment Management Inc.’s holdings in Bristol Myers Squibb were worth $1,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Trifecta Capital Advisors LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC purchased a new stake in Bristol Myers Squibb in the second quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in shares of Bristol Myers Squibb by 202.8% during 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 period. CBIZ Investment Advisory Services LLC grew its stake in shares of Bristol Myers Squibb by 66.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 231 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at $36,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. Scotiabank restated a “sector perform” rating and set a $53.00 target price (up from $45.00) on shares of Bristol Myers Squibb in a report on Thursday, December 4th. Morgan Stanley reissued an “underweight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of Bristol Myers Squibb in a research note on Friday. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and a consensus target price of $54.08.

Bristol Myers Squibb Stock Up 2.3%

Shares of Bristol Myers Squibb stock opened at $52.38 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. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a market capitalization of $106.63 billion, a P/E ratio of 17.69, a P/E/G ratio of 8.02 and a beta of 0.29. The company has a 50 day moving average of $46.80 and a 200 day moving average of $46.93.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.8%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is currently 83.78%.

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.