CacheTech Inc. Takes Position in Bristol Myers Squibb Company $BMY

CacheTech Inc. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 11,914 shares of the biopharmaceutical company’s stock, valued at approximately $551,000.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Bristol Myers Squibb during the second quarter worth approximately $1,554,154,000. Wellington Management Group LLP raised its holdings in Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bristol Myers Squibb by 428.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock valued at $523,599,000 after buying an additional 9,171,098 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock valued at $345,594,000 after buying an additional 5,503,391 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research analyst reports. HSBC restated a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a research note on Wednesday. Truist Financial set a $65.00 target price on Bristol Myers Squibb in a report on Wednesday, December 3rd. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.08.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $52.38 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $46.80 and its two-hundred day moving average is $46.93. The stock has a market capitalization of $106.63 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 8.02 and a beta of 0.29. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33.

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

Bristol Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a $0.63 dividend. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) 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.