Conning Inc. Sells 14,709 Shares of Bristol Myers Squibb Company $BMY

Conning Inc. lessened its stake in Bristol Myers Squibb Company (NYSE:BMY) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 701,912 shares of the biopharmaceutical company’s stock after selling 14,709 shares during the quarter. Conning Inc.’s holdings in Bristol Myers Squibb were worth $31,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its holdings in shares of Bristol Myers Squibb by 10.0% in the third quarter. Gateway Investment Advisers LLC now owns 113,457 shares of the biopharmaceutical company’s stock worth $5,117,000 after purchasing an additional 10,284 shares during the last quarter. Commonwealth Retirement Investments LLC grew its holdings in Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after buying an additional 11,690 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Bristol Myers Squibb by 25.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,359 shares of the biopharmaceutical company’s stock worth $6,781,000 after acquiring an additional 30,909 shares during the last quarter. Norges Bank purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $1,554,154,000. Finally, Wealth Quarterback LLC boosted its position in shares of Bristol Myers Squibb by 42.6% during the 2nd quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock valued at $1,178,000 after acquiring an additional 7,603 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Guggenheim restated a “buy” rating on shares of Bristol Myers Squibb in a research report on Tuesday, December 23rd. Finally, Wells Fargo & Company raised their price objective on Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.86.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $56.98 on Thursday. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The company’s 50-day moving average is $51.54 and its 200 day moving average is $48.00. The firm has a market capitalization of $115.99 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 9.26 and a beta of 0.29. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS 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 in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue 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 forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced 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. This represents a $2.52 annualized dividend and a dividend yield of 4.4%. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio is 85.14%.

Bristol Myers Squibb 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.