Gateway Investment Advisers LLC Acquires 10,284 Shares of Bristol Myers Squibb Company $BMY

Gateway Investment Advisers LLC increased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 10.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 113,457 shares of the biopharmaceutical company’s stock after purchasing an additional 10,284 shares during the period. Gateway Investment Advisers LLC’s holdings in Bristol Myers Squibb were worth $5,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new position in shares of Bristol Myers Squibb during the second quarter worth approximately $1,554,154,000. Charles Schwab Investment Management Inc. increased its position in Bristol Myers Squibb by 16.8% during 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 period. Arrowstreet Capital Limited Partnership raised its stake in Bristol Myers Squibb by 428.5% during 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 purchasing an additional 9,171,098 shares during the last quarter. Man Group plc boosted its holdings in 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 purchasing an additional 5,503,391 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Bristol Myers Squibb by 142.8% during the 2nd quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock worth $390,541,000 after purchasing an additional 4,961,869 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Guggenheim reiterated a “buy” rating on shares of Bristol Myers Squibb in a research note on Tuesday, December 23rd. Bank of America upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Morgan Stanley reissued an “underweight” rating and set a $37.00 price objective (up previously from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Citigroup cut their target price on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $57.00 price target (up previously from $51.00) on shares of Bristol Myers Squibb in a research note on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus target price of $54.62.

Bristol Myers Squibb Trading Down 0.9%

Shares of BMY opened at $53.46 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 stock has a market cap of $108.82 billion, a PE ratio of 18.06, a PEG ratio of 8.89 and a beta of 0.29. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The stock has a 50 day simple moving average of $49.82 and a 200-day simple moving average of $47.52.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly 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. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued 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 yield of 4.7%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is 85.14%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.